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Fly News Breaks for April 10, 2015
LL
Apr 10, 2015 | 06:57 EDT
Piper Jaffray analyst Peter Keith says the firm's survey of 404 homeowners regarding the Lumber Liquidators brand and recent 60 Minutes segment were better than he had anticipated. The survey indicated sentiment on Lumber Liquidators from participants that had seen or heard the 60 Minutes segment was only modestly worse than those that hadn't, Keith writes. Separately, Piper's social media analysis suggests negative comments have been fading and favorable comments on Lumber Liquidators have been increasing since mid-March. Keith believes Piper's work suggests the Lumber Liquidators brand is recovering. Nonetheless, he keeps a Neutral rating on the stock with a $37 price target pending greater visibility into the company's recent erosion in gross margin. The stock closed yesterday down 1c to $34.18.
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