Barclays lowered the firm’s price target on Ross Stores to $122 from $139 and keeps an Overweight rating on the shares. The firm’s promotional tracker shows promos in Q1 are running similar to Q4 levels and suggest that "consumers across all income brackets are pulling back" on discretionary product spending, the analyst tells investors. The firm also sees increasing risk to hopes for a demand recovery in the second half of the year.
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Published first on TheFly
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