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Fly News Breaks for January 3, 2019
LL
Jan 3, 2019 | 05:06 EDT
Loop Capital analyst Laura Champine downgraded Lumber Liquidators to Hold and cut her price target for the shares to $10 from $24. The analyst reduced her margin forecast to reflect a promotional environment. In 2019, lower sales and margins are likely as big-ticket home-related spending growth begins to fade, Champine tells investors in a research note. The analyst's 35c earnings per share estimate for Lumber Liquidators's 2019 is 20c lower than the consensus. However, she believes the stock's "trough valuation" should limit further downside.
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