Lake Street analyst Brooks O’Neil lowered the firm’s price target on Medavail (MDVL) to $1 from $4 and keeps a Buy rating on the shares after the company announced last week the execution of a strategic restructuring and reprioritization of its business targeted to deliver profitability and announced this morning an agreement to sell certain assets of MedAvail’s SpotRx pharmacies to CVS Pharmacy (CVS). The firm "admittedly, is looking down the road" with its price target, it tells investors, "but this transaction is buying us some time, and we plan to stick around and see what management can make of it," Lake Street added.
Published first on TheFly
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