Guggenheim Downgrades Monro Muffler Brake Inc. (MNRO) to Neutral

Guggenheim analyst Ali Faghri downgraded Monro Muffler Brake Inc. (NASDAQ: MNRO) from Buy to Neutral.

The analyst commented, "We are downgrading MNRO to NEUTRAL from BUY and removing ourPT. Our change in view is supported by: 1) the store refresh initiative being put onhold, which was key to our positive thesis and we believe pushes earnings upside toFY22 at the earliest; 2) unfavorable geographic (NE US) and product (tires) mix, whichmay limit the N-T sales recovery vs other aftermarket peers; 3) significant senior mgmtturnover in the past year, which increases execution risk on the turnaround plan; and 4)an elevated valuation, with shares at ~30x FY22 EPS, well above the 5-year average."

For an analyst ratings summary and ratings history on Monro Muffler Brake Inc. click here. For more ratings news on Monro Muffler Brake Inc. click here.

Shares of Monro Muffler Brake Inc. closed at $57.57 yesterday.

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