Morgan Stanley lowered the firm’s price target on Ross Stores (ROST) to $126 from $128 and keeps an Equal Weight rating on the shares. Ross’ Q1 EPS beat was overshadowed by withdrawn fiscal year guidance, below-Marmaxx (TJX) comps, and Q2 guidance set below the Street, the analyst tells investors. The firm was more negative on Ross than consensus and investors heading into the print and it thinks the Q1 report “validated that view,” the analyst added.
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