In a report published Thursday, Credit Suisse analyst Gary Balter reiterated a Neutral rating on Lumber Liquidators Holdings LL, but lowered the price target from $65.00 to $55.00.
In the report, Credit Suisse noted, “LL's stock will likely see a double-digit sell-off today in response to a mixture of weaker-than-expected Q3 results and 10-Q commentary indicating that it will take longer for the company to see a material improvement in comparable store sales and address outstanding issues in inventory. We are reducing our EPS estimates to $2.50 and $3.16 in FY 14 and 15, respectively, and lowering our target price to $55, representing 17.5x our FY 15 EPS estimate.”
Lumber Liquidators Holdings closed on Wednesday at $52.36.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryCredit SuisseGary BalterHome Improvement Retail
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