Lovesac price target raised to $31 from $30 at Roth MKM

Roth MKM analyst Matt Koranda raised the firm’s price target on Lovesac to $31 from $30 and keeps a Buy rating on the shares after its Q2 results and reduced guidance. The company delivered “healthy enough” results in a largely transitional Q2 despite a challenging macro backdrop, while its “better-than-feared” FY25 guidance also supported the post-earnings stock rally, the analyst tells investors in a research note. The firm further sees “several positives” for Lovesac, including new product growth, a potential uptick in housing turnover, and operating expense leverage following a sustained period of re-investment.