Purple Innovation price target raised to $2 from $1 at Roth MKM

Roth MKM raised the firm’s price target on Purple Innovation to $2 from $1 and keeps a Neutral rating on the shares ahead of its Q4 results. The company has now addressed near-term liquidity concerns with the recent debt refinancing with top shareholders, which should provide sufficient capital in a transitional 2024 as Purple works its way back toward profitability, the analyst tells investors in a research note.