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Fly News Breaks for August 5, 2016
SBH
Aug 5, 2016 | 07:37 EDT
Baird analyst Mark Altschwager noted Sally Beauty reported in-line earnings but weaker than feared results in its retail segment. The analyst said Sally's self-recovery story has been slower to gain traction than hoped, which has resulted in a more conservative earnings outlook and a valuation that reflects a slower growth scenario. Altschwager believes the selloff presents a good buying opportunity for patient investors and reiterated his Outperform rating on the stock, while lowering his price target to $32 from $34 on Sally Beauty shares.
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