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UPDATE: Feltl and Company Upgrades ValueVision Media to Buy on Favorable Outlook

Related VVTV
UPDATE: Topeka Capital Markets Initiates Coverage On ValueVision Media On Great Growth Potential
Earnings Scheduled For August 20, 2014

Feltl and Company raised its rating on ValueVision Media (NASDAQ: VVTV) from Hold to Buy and increased its price target from $2 to $3.

Feltl and Company said, "We think VVTV had a decent quarter with 2.6% sales growth. VVTV faced easier prior year “comps” in consumer electronics (CE) and watches, which declined 23% and 12%, respectively, a year ago. We think more homes and better channel placement helped drive sales growth. … We derive our new $3 price target by applying an 8x EV/EBITDA multiple to our new F2013 estimate. We think an 8x multiple is justified given multiples paid for similar companies. We previously valued the company roughly in line with the book value."

ValueVision Media closed at $2.31 on Monday.

Latest Ratings for VVTV

DateFirmActionFromTo
Oct 2014Topeka CapitalInitiates Coverage onBuy
Oct 2014Brean CapitalInitiates Coverage onBuy
Jul 2014Lake Street CapitalInitiates Coverage onBuy

View More Analyst Ratings for VVTV
View the Latest Analyst Ratings

Posted-In: Feltl And CompanyAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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