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Fly News Breaks for November 4, 2016
MIK
Nov 4, 2016 | 08:02 EDT
As previously reported, BofA/Merrill downgraded Michaels to Neutral form Buy and lowered its price target to $25 from $33. Analyst Denise Chai said competitors are getting more aggressive with increased new store growth and promotions and expects Michaels comps to remain muted and margins to be "flattish."
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