B of A Securities downgraded Overstock.com’s rating OSTK to neutral with a price target of $38.00, changing its price target from $85.00 to $38.00.
Shares of Overstock.com are trading down 5.79% in the past 24 hours, at $31.74 per share.
A move to $38.00 would represent a 19.72% increase over the current stock price.
Overstock.com Inc is an online retailer that provides products and services through websites. The company offers a wide range of products, including furniture and home decor, jewelry, watches, apparel and accessories, BMMGs (such as books, magazines, CDs), electronics and other items. The range of products for home and garden represents a significant part of its total turnover. The Company operates through a Direct Company that makes sales from its own inventory and a Partner Company that sells merchandise from manufacturers, distributors and other vendors through the Company’s websites. . The company generates the majority of its total revenue from partners in terms of commercial format and the United States in terms of market.
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