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Fly News Breaks for August 19, 2016
PERY
Aug 19, 2016 | 08:50 EDT
Brean Capital analyst Eric Tracy noted Perry Ellis reported better than feared results. The analyst cited continued tight inventory management and disciplined expense control. The company lowered guidance on due to an uncertain macro environment but Tracy believes management is making the right decisions to reposition the brand. Tracy reiterated his Buy rating as investor sentiment appears to be washed out and he lowered his price target to $25 from $26 on Perry Ellis shares.
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