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Fly News Breaks for August 8, 2016
FRED
Aug 8, 2016 | 06:08 EDT
Deutsche Bank analyst Paul Trussell downgraded Fred's to Sell saying the issues that drove the company's "disappointing" comp and margin performance in Q2 are likely to extend into the second half of the year. The analyst believes a same-store-sales recovery could be slow and he cut his price target for the shares to $12 from $15.
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