Piper Jaffray Remains Neutral On Lumber Liquidators

According to Piper Jaffray, Lumber Liquidators LL Neutral rating is maintained. Piper Jaffray said that it is maintaining its Neutral rating but lowering its PT from $24 to $20 following LL's Q2 business update and follow-up discussion with management. “In the update, LL preannounced that Q2 net sales are expected to be $175.5M (vs. PJC and consensus of $186.8M) and EPS of $0.18 to $0.20 vs. (PJC of $0.30 and consensus of $0.31). We remain Neutral based on our belief that F11 results may continue to be challenged based on volatility in big ticket discretionary spending.” Lumber Liquidators closed yesterday at $25.64.