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Fly News Breaks for March 13, 2015
LL
Mar 13, 2015 | 07:51 EDT
Jefferies lowered its price target for Lumber Liquidators to $33 saying the company's new Q1 guidance "shows customer confidence is shaken." The firm believes Lumber's comp store sales and open orders have "eroded significantly" following the 60 Minutes piece. Jefferies thinks business could get worse before getting better and stays on the sidelines with a Hold rating. Shares of Lumber Liquidators were downgraded this morning at Goldman Sachs.
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