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Fly News Breaks for August 23, 2018
LZB
Aug 23, 2018 | 07:23 EDT
As previously reported, KeyBanc analyst Bradley Thomas downgraded La-Z-Boy to Sector Weight from Overweight on valuation. With the stock 20%-plus year over year and valuation elevated, the analyst believes the risk/reward for shares is more balanced on a six-month time frame. Thomas sees organic sales moderating from Q1, and incremental margin pressure in the quarters ahead. Lastly, while difficult to quantify, China tariffs could lead to downside to his current EPS estimates if exemptions are not made for the industry.
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