DA Davidson Upgrades Pier 1 Imports (PIR) to Neutral
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DA Davidson upgrades Pier 1 Imports (NYSE: PIR) from Underperform to Neutral and raises their price target to $8, saying Q4 results offer tangible improvements to ongoing cost structure. They say management has successfully lowered the hurdle to profitability which they say will provide less volatility results in the future. [LJ]
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