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Fly News Breaks for November 5, 2018
PBH
Nov 5, 2018 | 09:35 EDT
DA Davidson analyst Linda Bolton Weiser raised her price target on Prestige Brands to $38 after its Q3 results, citing the company's sales and operating profit upside along with organic sales growth of 1.6% that was driven by the 12% rise in international sales. The analyst keeps her Neutral rating on Prestige Brands however and warns that it will not forecast FY20 organic sales growth in the 2%-3% range - its formal long-term target - becasue of "secular channel inventory shrinkage".
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