Standpoint Research Downgrades Overstock.com (OSTK) to Hold

Standpoint Research downgraded Overstock.com (NASDAQ: OSTK) from Buy to Hold.

Analyst Ronnie Moas comments "After listening to the conference call and looking over the recent earnings, I have decided to drop this name and lock in the 220% move off the 52-week low that was fueled by a powerful short squeeze that may be winding down at this time. OSTK should be able to generate $1.00 in EPS on $1.5 bln in revenues [if we look out to 2014-2015 and that would justify a price target in the high teens] versus negligible profit in 2011-2012. Short interest being squeezed would probably push this to the low $20s or higher."

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 $15.49 yesterday.

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