Fly News Breaks for February 26, 2015
LL
Feb 26, 2015 | 14:42 EDT
As noted earlier, Wedbush downgraded Lumber Liquidators to Neutral from Outperform. The firm downgraded the stock based on several pieces of negative news that surfaced about the company yesterday. The negative news includes the company's disclosure that a highly critical report about it is expected to appear on "60 Minutes" on Sunday, and its warning that the government may lodge criminal charges against the company. The firm, which is most concerned about the "60 Minutes" piece, says that it believes the company's business model is sound, but it thinks that it cannot determine how the negative catalysts will ultimately affect the company. Target to $55 from $80.
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