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Fly News Breaks for June 9, 2016
RH
Jun 9, 2016 | 06:29 EDT
Raymond James analyst Budd Bugatch downgraded Restoration Hardware two notches to Market Perform from Strong Buy following disappointing Q1 results. The analyst does not believe the business model is broken, but near-term headwinds are strong and will last longer than originally expected. Bugatch expects sales and margins to continue to face pressure in FY16 before "reaccelerating" in FY17.
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