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Fly News Breaks for November 14, 2019
SBH
Nov 14, 2019 | 07:39 EDT
DA Davidson analyst Linda Bolton Weiser downgraded Sally Beauty to Underperform from Neutral but raised her price target to $15, up from $12.50, after its Q3 results last week. The analyst notes that while the stock has benefited from investor rotation to Value, she continues to hold a "cautious view" on its fundamentals, citing its continued struggle for store traffic amid the shift to e-commerce, the 14% decline in operating cash flows, the capital spending increase to drive the management's goal of store growth in FY20, and its high financial leverage.
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