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Fly News Breaks for May 22, 2015
LL
May 22, 2015 | 07:04 EDT
Piper Jaffray yesterday lowered its price target for Lumber Liquidators to $18 following the "surprise" resignation of the company's CEO Rob Lynch. Piper said the departure elevates its concerns of wrongdoing at the company. The firm cut its 2015 earnings estimate to 2c from 49c and 2016 estimate to 99c from $1.68. It keeps a Neutral rating on Lumber Liquidators.
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