Fly News Breaks for March 4, 2020
Mar 4, 2020 | 09:39 EDT
Loop Capital analyst Laura Champine lowered the firm's price target on Ross Stores to $120 from $137 after its below-consensus guidance for Q1 and FY21, noting that it is also "prudent" to take down her FY20 EPS view by 42c to $4.90 on the risk that coronavirus worries and election year distractions would pressure retail traffic. The analyst still keeps her Buy rating on the Ross Stores shares longer term, stating that the stock has "much less supply-chain risk than most apparel retailers" base on its "aggressive use of pack-away inventory".
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