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Fly News Breaks for May 9, 2016
LL
May 9, 2016 | 08:22 EDT
Piper Jaffray analyst Peter Keith says his firm's recent checks on Lumber Liquidators have been unfavorable with traffic remaining weak and product returns remaining elevated. The analyst believes Lumber's sales continue to run down year-over-year in April despite lapping "significantly easier comparisons" from last year's 60 Minutes profile. Keith lowered his Q2 comp estimate to down 7.5% from flat ahead of the company's Q1 results on Tuesday. He keeps a Neutral rating on the shares with an $11 price target.
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