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Fly News Breaks for November 1, 2016
SBH
Nov 1, 2016 | 07:37 EDT
Oppenheimer analyst Rupesh Parikh lowered his price target for Sally Beauty to $29 from $35 ahead of results, citing ongoing expenses pressures and sluggish Sally Beauty Supply segment growth. After making progress in Q1, the analyst believes the company has taken a few steps back due to disruption associated with the meaningful store changes, marketing missteps, and the recent CFO resignation. Nonetheless, Parikh still views the risk/reward as attractive at current levels and reiterates an Outperform rating on the shares.
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