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Fly News Breaks for July 19, 2016
ETH
Jul 19, 2016 | 07:56 EDT
Telsey Advisory analyst Cristina Fernandez upgraded Ethan Allen to Outperform and raised its price target to $40 from $33. The analyst said Ethan Allen has renewed sales momentum and sees several initiatives in the next few quarters that could sustain sales and drive shares higher. These include new modern styles through August, a Disney line in the Fall,and a homeowners program with real estate brokers that is just getting underway. As ales grow, Fernandez expects operating margins to expand as it leverages its manufacturing fixed costs.
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