JP Morgan Cuts Elizabeth Arden to Neutral
JP Morgan downgraded Elizabeth Arden (RDEN) to neutral from overweight, citing the stock price's recent run-up and numerous issues that could constrain financial results over the next few quarters.
Analyst Dara Mohsenian noted factors such as decelerating incremental contribution from the company's Britney Spears fragrances, at the same time celebrity fragrances face increasing competition.
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