UPDATE: Lake Street Capital Markets Initiates Coverage on PFSweb with Buy Rating, $5.25 PT on Attractive e-Commerce Platform

In a report published Monday, Lake Street Capital Markets analyst Mark Argento initiated coverage on PFSweb PFSW with a Buy rating and $5.25 price target. In the report, Lake Street Capital Markets noted, “PFSweb's e-commerce platform is well positioned to benefit from the large and growing trend of outsourced, end-to-end e-commerce services. After recent attrition of two larger e-commerce customers, PFS replaced its CEO and reduced expenses, making 2013 a ‘transition' year. With a recent capital injection, BOD additions, and further cost cutting, we believe PFS has the opportunity to prove to the Street it can be a viable and profitable player in this fast growing industry.” PFSweb closed on Friday at $4.06.