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Fly News Breaks for August 6, 2015
LL
Aug 6, 2015 | 07:33 EDT
Stephens downgraded Lumber Liquidators to Equal Weight from Overweight and lowered its price target to $13 from $35 following the "big" Q2 miss. The firm said significant margin pressure and increased SG&A costs led to the significant Q2 earnings miss. Stephens expects legal fees and increased costs to continue impacting operating margins and believes a recovery is several quarters away.
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