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Fly News Breaks for March 13, 2015
LL
Mar 13, 2015 | 07:28 EDT
Stephens said it thinks Lumber Liquidators' update call to address the claims made by "60 Minutes" was "detailed and credible" and the firm believes that the negative sales impact seen since the report will dissipate over time. The firm maintains its Overweight rating on the stock but lowered its price target to $49 from $68 to reflect lower 2015 and 2016 EPS estimates and a revised multiple.
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