Beyond price target lowered to $15 from $25 at Wedbush

Wedbush analyst Michael Pachter lowered the firm’s price target on Beyond (BYON) to $15 from $25 and keeps an Outperform rating on the shares. The deliberate steps Beyond is taking to lower fixed costs and grow its business will drive significant shareholder value in the next few years, the analyst tells investors in a research note. Wedbush thinks Executive Chairman Marcus Lemonis has a sound vision for driving profitable revenue growth, and expects meaningful revenue and earnings improvements beginning in 2025 as Overstock.com grows its close-out business, Zulily re-establishes an online presence, and Bed Bath & Beyond penetrates physical retail through expanded partnerships.