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Fly News Breaks for October 22, 2015
SBH
Oct 22, 2015 | 06:15 EDT
Wells Fargo analyst Ike Boruchow doubled downgraded Sally Beauty Holdings to Underperform from Outperform and cut his price target range for shares to $18-$20 from $32-$33. The retailer and distributor of beauty supplies closed yesterday down 35c to $23.66. The new CEO's growth and sales initiatives are so far failing to generate improvements in traffic while the company's gross margin expansion has stagnated, Boruchow told investors last night in a research note.
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