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Fly News Breaks for August 21, 2015
SSI
Aug 21, 2015 | 07:53 EDT
BofA/Merrill downgraded Stage Stores two notches to Underperform from Buy and lowered its price target to $12 from $24. Following the disappointing Q2 report and FY15 guidance, the firm said it no longer has confidence in turnaround initiatives and expects continued layoffs through 2016 to pressure next year's growth.
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