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Fly News Breaks for May 8, 2018
PBH
May 8, 2018 | 06:48 EDT
DA Davidson analyst Linda Bolton Weiser lowered her price target on Prestige Brands to $33 and kept her Neutral rating ahead of the company's Q4 earnings this week. Weiser says the outlook for FY19 gross margins may be even weaker than when she downgraded the stock in February because of freight and labor inflation. The analyst also expects Prestige Brands to invest more on advertising and promotion, increasing costs and weighing on profitability, as she lowers her FY19 and FY20 EPS forecasts by 13c to $2.95 and $3.12 respectively.
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