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Fly News Breaks for June 23, 2017
SKT
Jun 23, 2017 | 06:11 EDT
BofA/Merrill analyst Craig Schmidt downgraded Tanger Factory to Underperform and lowered its price target to $25.50 from $28 due to increased concenrs about the moderate outlet space. The analyst said mature outlet centers are increasingly susceptible to rising competitive pressures from value retailers and a rising number of store closings that will limit sales growth productivity.
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