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Fly News Breaks for May 4, 2018
SBH
May 4, 2018 | 07:55 EDT
As reported previously, Baird analyst Mark Altschwager downgraded Sally Beauty to Neutral from Outperform. He said he remains encouraged by its cost reductions, which will protect its fee cash flow, but he believes sustained improvement in top-line trends will be needed to support a higher valuation. Altschwager lowered his price target to $17 from $21 on Sally Beauty shares.
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