Goldman Sachs Maintains Neutral Rating on Lumber Liquidators Holding

According to a recent report, Goldman Sachs' visit with senior management of Lumber Liquidators Holdings LL indicated continued momentum in gross margin and logistics initiatives. During the meeting, the senior management addressed vendor negotiations, the company's progress in the ramp-up of its new DC, and better planning at LL moving forward. After the meeting, J.P. Morgan maintains a Neutral rating and $29.00 price target. In the report, Goldman Sachs said, "A stagnant macro backdrop continues to weigh on the category; we still see headwinds to a sales rebound, though SSS should obviously accelerate in 3Q2011 vs. easing compares." LL closed yesterday at $26.30.