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December 10, 2013
07:43 EDTLLLumber Liquidators sales trends stronger than expected, says Wedbush
Wedbush says Lumber Liquidators' sales trends are stronger than expected after the company updated its guidance. However, Webush says Lumber's margins "are a bit light." Nonetheless, after speaking to an Asian hardwood flooring import expert yesterday, the firm believes the company's gross margin outlook in 2014 is still strong. Wedbush also thinks Lumber's illegal sourcing issues are likely isolated. The firm has an Outperform rating on the stock with a $125 price target.
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