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Fly News Breaks for November 10, 2015
PLKI
Nov 10, 2015 | 08:05 EDT
As previously reported, Longbow downgraded Popeyes to Neutral from Buy. Analyst Alton Stump checks with franchisees indicate Q3 domestic system-wide same-store sales were up in a 3.0-3.5% range in, below his prior 5.0% comp growth forecast as well as consensus at 4.0%. Stump has concerns Popeyes will have difficulties hitting Street consensus same-store-sales growth estimates and recommends moving to the sidelines.
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