Fly News Breaks for February 26, 2015
LL
Feb 26, 2015 | 07:57 EDT
Stephens said it sees Lumber Liquidators participating in a multi-year housing recovery and noted that, despite its disappointing comps in Q4, the company reported Q1 SSS were up 12.1% in the quarter to date. Regarding the upcoming "60 Minutes" report, Stephens noted that management provided assurance that it does comply with the CARB standards. Stephens estimates that the products category in question and listed in the lawsuit represent only about $30M of sales over a four year period. The firm maintains its Overweight rating on the stock and raised its price target for shares to $68 from $65.
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