DA Davidson analyst Tom Forte lowered the firm’s price target on Overstock.com to $87 from $92 and keeps a Buy rating on the shares. The analyst is adjusting the firm’s sum of parts model with a $5 contribution decline for the company’s Bitt segment to $15 from $20 following Overstock’s Q2 results. While Home e-commerce trends are improving, they also “remain challenging”, the firm tells investors in a research note.
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