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Fly News Breaks for September 8, 2016
HDS
Sep 8, 2016 | 07:57 EDT
Baird analyst David Manthey noted HD Supply reported mixed Q2 results due to FM supply chain issues. Inventory under-investment and a corresponding over-correction were to blame, said the analyst, who lowered his price target slightly and will closely monitor progress in the FM business relative to management's belief that trends will normalize in 2017. Manthey reiterated his Outperform rating and trimmed his price target to $38 from $40 on HD Supply shares.
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