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Fly News Breaks for July 29, 2015
AEO, ARO
Jul 29, 2015 | 06:04 EDT
UBS analyst Michael Binetti downgraded Aeropostale (ARO) to Sell and cut his price target for shares to $1.00 from $2.25. The shift to a more balanced assortment will bring the retailer into more competitive categories, Binetti tells investors in a research note. Aeropostale will now have to compete with strong chains like American Eagle (AEO) and Gap's Old Navy, he writes. The analyst sees more downside risk for Aeropostale.
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