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Fly News Breaks for April 28, 2017
COLM
Apr 28, 2017 | 06:12 EDT
Canaccord analyst Camilo Lyon downgraded Columbia Sportswear to Hold from Buy and lowered its price target to $60 from $64 saying US wholesale has material slowed. He said the US wholesale channel continues to suffer from door closures and bankruptcies, combined with cautious fall order patterns by existing dealers, and is expected to soften further. Lyon believes the issues are structural and suggests overall growth in futures years will be constrained, making it difficult for Columbia to achieve its long-term goal of mid-teens EBIT margins.
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