By: Benzinga
UPDATE: J.P. Morgan Downgrades Saks to Neutral on Balanced Risk-Reward
In a report published Monday, J.P. Morgan analyst Matthew R. Boss downgraded the rating on Saks (NYSE: SKS ) from Overweight to Neutral, but reiterated the $12.00 price target. In the report, Boss noted, “With Saks at our $12 price target (trading at 8.3x EBITDA), we believe the market is
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