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Fly News Breaks for March 8, 2019
GME
Mar 8, 2019 | 06:55 EDT
BofA/Merrill analyst Curtis Nagle downgraded GameStop to Underperform from Neutral and lowered its price target to $9 from $12 based on expectations for a deterioration in fundamentals. Nagle said structural headwinds appear to be worsening, the turnaround opportunity is diminishing without permanent leadership and declining earnings, and valuation is being pressured after the company terminated efforts to sell the company in January.
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