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Fly News Breaks for January 2, 2020
ROST
Jan 2, 2020 | 06:47 EDT
Wells Fargo analyst Ike Boruchow downgraded Ross Stores to Equal Weight from Overweight with a $125 price target, as part of a broader research note on retailers and specialty softlines. The analyst says the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, and, given his "play offense" view for 2020, is moving to the sidelines on the stock, given that it hit his price target and is trading at its all-time-high multiple.
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