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Fly News Breaks for December 15, 2015
ZOES
Dec 15, 2015 | 06:38 EDT
Credit Suisse analyst Jason West downgraded Zoe's Kitchen to Underperform and lowered his price target to $27 from $36 on shares. West is concerned about about Zoe's same-store-sales that have steadily slowed since 2012 versus and acceleration across the broader market. Q4 same-store-sales will need to accelerate to meet consensus even though comps are tougher, Q3 trends slowed, and the consumer backdrop has worsened, the analyst wrote. Additionally, West said margins are lagging and valuation is demanding.
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