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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:47 EDT
BMO Capital analyst Simeon Siegel lowered his price target on Ross Stores to $125 from $130 after its Q4 results and guidance. The analyst notes that while earnings exceeded expectations, gross margins came in slightly worse than expected and the management offered conservative guidance. Siegel still maintains his Outperform rating on Ross Stores however, noting that off-price retail continues to take market share away from full-price, with the company also offering the type of consistency that few of its peers can match.
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