Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Ross Stores (ROST) to $140 from $165 and keeps an Equal Weight rating on the shares. With concerns growing, Ross Stores indeed fell short in Q4, the firm says. Comparable sales are in negative territory and Ross Stores’ outlook reflects clear demand headwinds, Wells adds, saying questions remain how much of this is transitory vs. ROST-specific.
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