2020-06-09 16:03:46 LOVE Lovesac
06/09/20 06/0916:03 06/09/2016:03 | Lovesac price target raised to $30 from $14 at StifelStifel analyst Scott Devitt raised the firm's price target on Lovesac to $30 from $14 and keeps a Buy rating on the shares following the company's better than expected fiscal Q1 results. Since the onset of store closures in mid-March, Lovesac has successfully pivoted to driving revenue growth through its e-commerce channel, which accelerated to 255% year-over-year growth in Q1, Devitt tells investors in a research note. The analyst expects heightened demand through the company's e-commerce channel to "prove longer-lasting relative to the growth trajectory prior to the crisis." |
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