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Fly News Breaks for June 9, 2016
RH
Jun 9, 2016 | 08:00 EDT
Buckingham believes that Restoration Hardware might miss its newly lowered fiscal 2016 EPS targets as it pulls back its promotions and invests more capital in its large format stores amid spending by high-end consumers. The firm says that the company's fixed costs are rising as its demand is slowing ,and it believes that the shares' risk/reward ratio is highly unfavorable. Buckingham cut its price target on the name to $21 from $30 and reiterates an Underperform rating on the stock.
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