Morgan Stanley Maintains Overweight on Ross Stores, Lowers Price Target to $159
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Alex Straton maintains an Overweight rating on Ross Stores (NASDAQ:ROST) but lowers the price target from $161 to $159.
May 06, 2024 | 5:17 pm
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Morgan Stanley maintains an Overweight rating on Ross Stores but lowers the price target from $161 to $159.
The adjustment in price target by Morgan Stanley reflects a slight change in valuation perspective, likely due to updated financial analysis or market conditions. However, maintaining an Overweight rating indicates a continued positive outlook on the stock, suggesting that the reduction in price target is not indicative of a fundamental change in the company's prospects. Therefore, the impact on the stock price may be neutral in the short term, as the market absorbs the minor adjustment in valuation against a backdrop of ongoing analyst confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100