Lovesac price target lowered to $50 from $55 at Canaccord

Canaccord analyst Maria Ripps lowered the firm’s price target on Lovesac to $50 from $55 and keeps a Buy rating on the shares. The analyst said they reported solid 3Q results, with both revenue and profitability coming in slightly ahead of expectations despite a challenging operating environment and he continues to feel that the company’s unique product platform and omnichannel strategy will help it weather near-term retail headwinds.