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Fly News Breaks for November 13, 2018
PRTY
Nov 13, 2018 | 08:17 EDT
Morgan Stanley analyst Simeon Gutman believes Party City shares are trading at "attractive levels" and look "increasingly intriguing for value focused investors," but he also thinks the near-term stock path may be "choppy" given the questions raised about the company's ability to deliver positive comps in 2019 following its recent "miss and lower" quarterly report. The analyst, who sees lackluster comps limiting potential near-term outperformance, keeps an Equal Weight rating on Party City and trimmed his price target on the stock to $14 from $15.
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