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Fly News Breaks for April 29, 2015
LL
Apr 29, 2015 | 10:05 EDT
Cantor Fitzgerald analyst Laura Champine does not think Lumber Liquidators' business model is broken, but she admits the stock at this point is best-suited for risk-tolerant investors given the "cloudy near-term picture." Champine lowered her price target for shares to $42 from $45 after the seller of wood floors reported a weaker than expected Q1 loss and said the Department of Justice indicated it is seeking criminal charges. The analyst expects the company's margin to bottom in Q2 and keeps a Buy rating on Lumber Liquidators. The stock is down $5.39 to $28.03 in early trading.
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