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In a report published Tuesday, Stifel Nicolaus analyst George Askew initiated coverage on
LightInTheBox Holding Co.LITB with a Hold rating.
In the report, Stifel Nicolaus noted, “We are initiating coverage on LightInTheBox Holding Co., Ltd. with a Hold. Shares currently trade at a 13.3x EV / adjusted EBITDA multiple on our $40.0 million 2014E adjusted EBITDA. We have significant respect for the company's business model, franchise, and management team. We look forward to becoming more constructive at a more attractive valuation.”
LightInTheBox Holding Co. closed on Monday at $13.13.
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