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Fly News Breaks for July 16, 2018
SBH
Jul 16, 2018 | 08:24 EDT
As previously reported, BofA/Merrill downgraded Sally Beauty to Underperform from Neutral and cut its price target to $15 from $17 given challenges to sales and margin expansion. Analyst Olivia Tong said multiple strategy shifts have yet to drive an improvement in customer traffic despite increasing spend by core consumers, competition from mass retail, specialty, and drug stores has heated up, the online platform remains relatively underdeveloped, and higher leverage reduces capital deployment.
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