Lumber Liquidators (NYSE:LL) stumbles in early trading after Loop Capital downgrades the company to a Hold rating from Buy. A warning on the impact of heightened promotional activity on Lumber Liquidators' margins is sounded by the Loop analyst team.
The firm chops the price target on LL all the way to $10 from $24 in a capitulation of its bullish thesis. Notably, Loop was the last firm standing with a positive rating on Lumber Liquidators.
Shares of Lumber Liquidators are down 4.01% in premarket trading to $9.57. The 52-week low for LL is $9.35.
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