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Fly News Breaks for October 25, 2019
MNRO
Oct 25, 2019 | 07:44 EDT
BMO Capital analyst Jonathan Lamers lowered his price target on Monro to $78 and kept his Market Perform rating after its below-consensus Q2 results driven by declining gross margin as a result of retail challenges and pass-through of inflation. The analyst notes that the management expects margins to improve in the back half of the fiscal year as industry retail pricing has "caught up to inflation", but he still sees a "balanced" risk to earnings and only "modest" upside from valuation standpoint.
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