Lake Street analyst Eric Martinuzzi says Quantum's debt refinancing "removes a major balance sheet overhang." The company last week refinanced its existing debt and removed the risk of a January 31, 2019, default, Martinuzzi tells investors in a research note. The analyst believes the new debt arrangement validates the company's credit-worthiness and its business outlook. The new U.S. Bank agreement and the ongoing PNC relationship are evidence of the viability of Quantum's business, contends Martinuzzi. He keeps a Hold rating on the shares with a $4 price target.