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Fly News Breaks for September 8, 2016
PIR
Sep 8, 2016 | 05:39 EDT
Credit Suisse analyst Seth Sigman downgraded Pier 1 Imports to Underperform and lowered its price target to $4 from $4.50 based on weaker Q2 sales results and relative underperformance versus the industry. He sees increased risk of more aggressive promotional activity to improve sales and management uncertainty with the expected departure of CEO Alex Smith.
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