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Wedbush analyst Seth Basham lowered the firm’s price target on Monro (MNRO) to $19 from $27 and keeps an Outperform rating on the shares. The firm notes the company has announced the appointment of Peter Fitzsimmons, Partner and Managing Director of AlixPartners, as President and CEO, effective immediately. Michael Broderick has departed the company as President and CEO following the Board’s determination that a change in leadership was necessary to enhance operations, drive profitability, increase operating income and increase shareholder returns.
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