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Fly News Breaks for April 20, 2015
LL
Apr 20, 2015 | 16:20 EDT
Cantor Fitzgerald analysts Laura Champine and Jason Smith started shares of Lumber Liquidators with a Buy rating and $45 price target. In a note to investors after the close of trading, the analysts said recent controversy surrounding the company has created an opportunity to invest in a "differentiated, growth-driven business model at an attractive valuation." Shares have lost half of their value since the company's Q4 conference call on February 25, when it warned about the 60 Minutes report that would air on March 1, they noted. The analysts think Lumber's brand reputation has made a "slight recovery" since regulators stated that the testing methods used in the television piece are not the same required for compliance. Shares of Lumber Liquidators closed the day down 13c to $32.24.
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