Lovesac initiated with a Buy at Maxim

Maxim initiated coverage of Lovesac with a Buy rating and $36 price target. The firm is impressed by the company’s efforts to diversify its supply chain to be less reliant on China, including U.S. expansion, the analyst tells investors in a research note. Maxim further cites Lovesac’s potential for international expansion and re-commerce, or selling used merchandise to consumers directly.