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Fly News Breaks for June 20, 2019
AOBC
Jun 20, 2019 | 09:17 EDT
Lake Street transitioned coverage of American Outdoor Brands to analyst Mark Smith who kept a Buy rating on the shares with a $17 price target. The company reported Q4 well ahead of estimates but guidance for Q1 was lower than expected as management projects growth will be largely back- end loaded this fiscal year, Smith tells investors in a research note. Heavy promotions boosted results late in the quarter, but this likely moved forward some sales out of Q1, contends the analyst. However, he thinks American Outdoor's long-term story is intact.
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