BMO Capital analyst Simeon Siegel lowered the firm’s price target on Ross Stores (ROST) to $156 from $168 but keeps an Outperform rating on the shares. The company reported a bottom-line beat on materially better SG&A vs. expectations owing to the sale of a packaway facility, the analyst tells investors in a research note. Uncertainty looms, but per historical trends, Ross Stores’ guide should once again prove conservative, BMO added.
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