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Fly News Breaks for May 31, 2017
PIR
May 31, 2017 | 06:07 EDT
Deutsche Bank analyst Adam Sindler lowered his price target for Pier 1 Imports to $5.00 from $6.25 and recommends that investors sell the stock into any strength. The rise of online only, entry price point and unbranded home furnishings retailers "has eroded the company's primary competitive advantage," Sindler tells investors in a research note. His new price target partly reflects group multiples coming in over the last twelve months. The analyst reiterates a Sell rating on Pier 1.
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