Credit Suisse Starts Overstock.com (OSTK) at Outperform

Credit Suisse analyst Seth Sigman initiates coverage on Overstock.com (NASDAQ: OSTK) with a Outperform rating and a price target of $91.00.

The analyst comments "OSTK is an online Home Furnishings retailer, that has an opportunity to reverse years of underperformance, and capitalize on home furnishing’s strong online growth, as we started to see late in 2019 and into 2020. We see upside potential in the near term (Q3/Q4) based on positive internal momentum and favorable external drivers, with positive long-term implications from this growth and incremental customer engagement. Overall, we believe the stock offers unique relative value and profitability within the broader ecommerce/retail spectrum. Our target price of $91 is based on an equal weighted average using HOLT® , and a peer multiple analysis."

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 $75.47 yesterday.

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