Yesterday was "monumental" for TheStreet, as it accretively retired $55M in preferred stock, instituted a 5M share buyback, added a new board member focused on value creation, and locked in Jim Cramer with a four-year contract extension, Lake Street analyst Mark Argento tells investors in a research note. He believes the removal of preferred stock will allow the company to unlock equity value in multiple ways, including deploying growth capital and potentially selling non-core assets. Argento raised his price target for TheStreet shares to $3 from $2 and reiterates a Buy rating on the name following the Q3 earnings report.