UPDATE: Lake Street Initiates Coverage On Value Vision Media
Shares of Value Vision Media (NASDAQ: VVTV) opened up almost four percent higher in Tuesday's session after receiving a Buy rating and a $9 price target from Lake Street analyst, Mark Argento.
Argento began by noting the recent victory of activist shareholders, which resulted in five of eight board seats turning over, as well as the appointment of Mark Bozek, former HSN CFO, as the company's new CEO.
According to Argento, with new management comes a "new and ambitious" course of action including enhanced merchandising, marketing and on-air production.
"Value Vision Media is in a unique position to disrupt and re-invent the shop at home category by leveraging its flexible e-commerce, social/mobile channels to become a true omni-channel retailer," said Argento.
Latest Ratings for VVTV
|Jul 2014||Lake Street Capital||Initiates Coverage on||Buy|
|Nov 2013||Craig-Hallum||Initiates Coverage on||Buy|
|Mar 2013||Piper Jaffray||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.