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Fly News Breaks for August 26, 2019
Aug 26, 2019 | 08:37 EDT
DA Davidson analyst Linda Bolton Weiser kept her Buy rating and $25 price target on 1-800-Flowers, saying the 21% decline in the stock over the past two trading days presents a buying opportunity. The analyst says the company's FY20 organic sales growth guidance of 6%-7% was conservative and should be achievable if the U.S. economy remains healthy. Weiser further states that in the most recent reported quarter, 1-800-Flowers beat on sales expectations in two of its three business segments, with Consumer Flolar and Gourmet Food & Gift Baskets growing revenue by 10.2% and 20.5% respectively.
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