Overstock can possibly double revenues over time amid new branding, says Wedbush

Wedbush analyst Michael Pachter reiterates an Outperform rating and $43 price target on Overstock.com, telling investors in a research note that the company is well-positioned among home goods retailers with an assortment of unbranded products in its “inventory light” business. Overstock continues to be impacted by lower discretionary spending on home categories as macroeconomic pressures persist, but Wedbush feels its Bed Bath & Beyond website re-branding is encouraging so far. It’s too early to tell, but the firm thinks Overstock can potentially double its revenues over time as it fully incorporates the Bed Bath & Beyond branding.