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Fly News Breaks for April 27, 2017
AEO, JWN, LB
Apr 27, 2017 | 08:20 EDT
Cowen analyst Oliver Chen said he remains cautious on mall-based retail stocks as he sees sideways movement with downside risk to earnings and multiples due to constant pricing pressure, consumer preference shift, and uncertainty from mall anchor closures. Chen is specifically cautious on L Brands (LB), Nordstrom's (JWN), and American Eagle (AEO) and recommends buying high-luxury or high-value stocks in the retail space.
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