Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Morgan Keegan Lowers La-Z Boy to Underperform

Morgan Keegan downgraded La-Z Boy (LZB) to underperform from market perform.

Analyst Laura Champine says La-Z Boy cited in a10-K: "significant competition, worldwide overcapacity, increased raw material costs, import pressures" as the many factors making margin expansion difficult.

The company also says it's well-positioned to capitalize on any increased demand for their furniture. Champine thinks the key phrase is "their furniture," as she doesn't believe La-Z Boy is participating in an industry recovery that's underway.

She cut the $1.27 fiscal 2005 (Apr.) EPS estimate to $1.10. She sees $1.13 fiscal 2006 EPS. She recommends investors sell the shares given the risks to her near-term estimates as well as the long-term competitive risks.

blog comments powered by Disqus