B.Riley FBR Thinks EVINE Live’s Stock is Going to Recover


In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on EVINE Live (EVLV), with a price target of $1.25. The company’s shares closed yesterday at $0.66, close to its 52-week low of $0.54.

Wold noted:

“Before the open on Wednesday, 11/28, EVINE Live (EVLV) reported 3Q18 results that came in significantly below expectations and drove a 37% decline in shares during the trading day. We can understand some lingering investor concerns around management’s multi-year turnaround efforts being impacted by the merger of the two main competitors and continued cord-cutting headwinds. However, with the delayed launch of a major new brand partner causing the sales shortfall (with deleveraging on fixed costs impacting EBITDA) and the launch now firm for early January, see the stock price decline as a significant overreaction.”

According to TipRanks.com, Wold is a 3-star analyst with an average return of 2.3% and a 43.0% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on EVINE Live is a Moderate Buy with an average price target of $1.25.

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The company has a one-year high of $1.74 and a one-year low of $0.54. Currently, EVINE Live has an average volume of 222.9K.

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EVINE Live, Inc. is a multichannel electronic retailer that markets, sells and distributes products to consumers through TV, online, mobile and social media. The company’s primary product, a television shopping network, ShopNBC, which is distributed primarily through cable and satellite affiliation agreements, and markets brand name and private label products in the categories of jewelry and watches; home and electronics; beauty, health and fitness; and fashion and accessories. It also operates ShopNBC.com, an e-commerce platform that sells products appearing on its television shopping channel, as well as an extended assortment of online-only merchandise. The company’s programming and products are also marketed through mobile devices, including smartphones and tablets, such as the iPad, and through the social media channels. The company was founded on June 25, 1990 and is headquartered in Eden Prairie, MN.

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