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Fly News Breaks for October 20, 2016
SCSS
Oct 20, 2016 | 06:32 EDT
BofA/Merrill downgraded Select Comfort to Underperform with a $16 price target following hte Q3 miss which included lower than expected comps and a cut in guidance. The firm believes increased consumer volatility from the election will make it difficult to win back lost sales, organic sales growth could be pressured by a peak in average ticket prices, and inconsistent results warrant a discounted multiple.
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