UPDATE: Credit Suisse Downgrades Tuesday Morning Corporation As Stock May Reflect Turnaround Prospects

In a report published Wednesday, Credit Suisse analyst Seth Sigman downgraded the rating on Tuesday Morning Corporation TUES from Outperform to Neutral, but reiterated the $20.00 price target. In the report, Credit Suisse noted, “TUES stock has moved up quicker than we expected, and the risk/reward may be less favorable following a 45%+ move over the last year. We would look for a better entry point, as we continue to believe that TUES is the early stages of a multi-year turnaround under a very high-quality management team, with a potential upside case that incl. high single or even double-digit comps and double-digit margins.” Tuesday Morning Corporation closed on Tuesday at $19.40.