UPDATE: BofA/Merrill Lynch Downgrades Overstock.com (OSTK) from Buy to Underperform

July 3, 2013 7:18 AM EDT
Get Alerts OSTK Hot Sheet
Price: $15.80 -2.77%

Rating Summary:
    2 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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(Updated - July 3, 2013 9:30 AM EDT)

BofA/Merrill Lynch downgraded Overstock.com (NASDAQ: OSTK) from Buy to Underperform with a price target of $23 (from $20). Analysts warned about a lack of customer growth and think the stock is overvalued. Growth is seen as inconsistent and Q4 and Q1 may not represent a long term growth trend, thinks BofA ML.

For an analyst ratings summary and ratings history on Overstock.com click here. For more ratings news on Overstock.com click here.

Shares of Overstock.com closed at $29.85 yesterday.

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