Lovesac price target lowered to $33 from $45 at Roth MKM

Roth MKM analyst Matt Koranda lowered the firm’s price target on Lovesac (LOVE) to $33 from $45 but keeps a Buy rating on the shares. The company’s Q3 results were weak, with erosion seen in sequential comp growth, the analyst tells investors in a research note. This was also generally out of step with industry and macro trends, which indicated sequential improvement in the furniture category, the first states, adding that it now awaits next week’s investor day, where skeptical investors will need the management to provide an encouraging but realistic medium-to-long-term outlook to begin to re-establish credibility.