DA Davidson analyst Michael Baker keeps a Buy rating and $32 price target on Lovesac after meeting with the company’s management team. The discussion supports the firm’s positive outlook on the company, and the firm continues to see Lovesac as a high quality small cap growth name that is poised to benefit from a recovery in housing, the analyst tells investors in a research note. The stock has underperformed year to date with 4.1% accretion, but the 27% increase in Q3 was towards the top end among its coverage group peers as both macro and micro drivers play out, the firm added.
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