UPDATE: Lake Street Initiates Coverage On Value Vision Media

Shares of Value Vision Media 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.