DA Davidson analyst Tom Forte lowered the firm’s price target on Overstock.com to $85 from $87 but keeps a Buy rating on the shares. The firm cites the company’s disclosed details of the initial performance of the transition to the Bed Bath & Beyond brand from Overstock, and while the market reaction was “negative”, DA Davidson still believes in the merits of the transition to the Bed Bath & Beyond brand from the Overstock one, the analyst tells investors in a research note. The firm adds that it would be a “buyer of shares” on the stock’s “flash sale”.
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