DA Davidson lowered the firm’s price target on Overstock.com to $41 from $85 and keeps a Buy rating on the shares. The company’s Q3 earnings losses were smaller than expected but its revenue was worse, the analyst tells investors in a research note. The firm is also adjusting its sum-of-parts valuation model for the stock, which includes $18 for its retail business, down from $35,, $9 for tZERO, down from $24,, $6 for Bitt, down from $15, and less than $1 for its Medici Ventures portfolio ex-the-separately-valued holdings, down from more than $4.
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