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Fly News Breaks for September 4, 2019
SBH
Sep 4, 2019 | 09:12 EDT
DA Davidson analyst Linda Bolton Weiser lowered her price target on Sally Beauty to $12.50, citing the potential impact of Hurricane Dorian on sales. The analyst notes that the company has about 5% of its stores in Florida, and when Hurricanes Harvey and Irma hit in Q4 of 2017, Sally Beauty's SSS growth was impacted by 70bps while its earnings were reduced by 3c. Weiser also keeps her Neutral rating on the shares and lowers her Q4 SSS forecast to -0.7% from flat, stating that the valuation on the stock could come under pressure.
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