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Fly News Breaks for December 1, 2017
Dec 1, 2017 | 06:40 EDT
DA Davidson analyst Tom Forte keeps his Buy rating and $85 price target on despite the 26% decline in stock price since Friday. Forte says his price target includes $58 valuation for the home e-commerce business based on the price that QVC (QVCA) paid for Zulily in 2015, and $27 for the Medici Ventures subsidiary. The analyst says that much like the "strategic" QVC acquisition, the purchase of e-commerce business could provide a lot of value to larger firms like T.J. Maxx (TJX) or Costco (COST).