Why This Electronics Retailer Is A Top Pick For Brean Capital In 2015
Tom Forte of Brean Capital named EVINE Live Inc (NASDAQ: EVLV) as a top pick for 2015 in a note on Monday.
“We believe management will meaningfully improve the company's ability to generate sustainable sales and EBITDA growth by increasing its mix of proprietary products from 25 percent today to more than 70 percent (in line with its video retailing peers),” Forte wrote.
Forte is also is confident that management can turn around its financial results. The analyst adds that recent efforts to add proprietary products include Mark Cuban and some of the entrepreneurs he backed on Shark Tank, a tie-in with the Discovery Channel's reality TV show Deadliest Catch, and the return of designer Pamela McCoy.
Forte is projecting the company's adjusted EBITDA margin to reach 6.1 percent in fiscal 2017 (compared to 3.3 percent in fiscal 2014) and 9.0 percent in the longer-term.
Shares are rated as a Buy with an $8 price target.
Latest Ratings for EVLV
|Oct 2016||B. Riley||Initiates Coverage On||Buy|
|Jun 2016||Maxim Group||Initiates Coverage on||Buy|
|Aug 2015||Brean Capital||Maintains||Buy|
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