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Fly News Breaks for June 14, 2019
EYE
Jun 14, 2019 | 07:55 EDT
As previously reported, Loop Capital analyst Anthony Chukumba initiated National Vision Holdings with a Hold rating and $26 price target. The analyst says the company is operating in the "very favorable" industry of U.S. optical retailing where sales grew by an annualized 3.1% from 2007 to 2017 and saw "only modest" declines during the Great Recession. Chukumba adds that National Vision shares offer a "unique and differentiated concept", with multiple growth drivers for its comparable store sales and potential for "long square footage growth runway", but believes that the stock price "fully reflects" the company's growth drivers and prefers to wait for a "more attractive entry point".
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