By Chuck Carnevale
Updated from 11:04 am, to include closing prices on the last page.
NEW YORK ( F.A.S.T. Graphs) -- The stock market can often overreact to even the slightest amount of bad news. On Thursday, Ross Stores (ROST) was down big, over 7.5%, on heavy volume. There were two pieces of news that could be attributed to this drop, although neither was of great importance to my way of thinking.
First, Piper Jaffray announced that they substantially lowered their price target from $86 a share to $71 a share. That represents a significant premium to their stock price currently at $55.23. However, I believe that this is the least likely reason for the big drop in Ross.The most likely reason for their price drop was that Ross issued a
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