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Fly News Breaks for December 20, 2018
PIR
Dec 20, 2018 | 06:17 EDT
Loop Capital analyst Anthony Chukumba lowered his price target on Pier 1 Imports to $1 and kept his Hold rating after the "very disappointing" set of Q3 results. The analyst states that the company's "strategic plan has been a failure and arguably left the company in an even worse position", adding that after the latest resignation, Pier 1 is now on its 4th CEO in less than two years. Amid the "rapidly deteriorating financial performance", Chukumba does not expect the company's strategic review to result in its sale.
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