UPDATE: BWS Financial Starts Tuesday Morning (TUEM) at Buy
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(Updated - January 27, 2021 9:01 AM EST)
BWS Financial analyst Hamed Khorsand initiates coverage on Tuesday Morning (OTC: TUEM) with a Buy rating and a price target of $6.00.
The analyst commented, "TUEM emerged from Chapter 11 protection at the beginning of the year after utilizing the bankruptcy process to get out of unfavorable leases by closing 200 of its underperforming stores. The new TUEM has little debt ($28.4M) and an optimized business focused on raising its inventory turnover to increase profits. The lower operating cost structure should lead to TUEM reporting greater profitability and adjusted EBITDA margin in fiscal 2022 (June). TUEM's stock has only been trading for a couple of weeks giving investors an early entry point."
Shares of Tuesday Morning closed at $2.01 yesterday.
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Related EntitiesBWS Financial, Bankruptcy
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