As previously reported, Roth MKM upgraded Purple Innovation to Buy from Neutral with a price target of $2.50, up from $2. The company’s Q4 results were “good enough”, with DTC growth, healthy gross margin flow through, and improving ad efficiency, the analyst tells investors in a research note. Purple has now effectively addressed liquidity concerns, and there are also enough signs of fundamental growth and margin inflection to get more constructive on the stock, the firm added.
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