Overstock.com (OSTK) Benefits From tZERO Visibility - DA Davidson

DA Davidson analyst Tom Forte reiterated a Buy rating and $48.00 price target on Overstock.com (NASDAQ: OSTK) after tZERO published a press release listing several accomplishments including product pipeline expansion, plans to create digitize financial instruments for multiple types of assets, progress in the the Android version its crypto wallet mobile app and a roll out plan for the Digital Locate Receipts (DLR) 2.0.

The analyst's $48 PT is based on $23 for the sale of the legacy e-commerce business to a strategic buyer and $25 for Medici, which includes tZERO. Any changes to the value of tZERO should have a substantial impact on the company's valuation. Overstock's earnings call is likely to be held on a similar date to the 2Q18 one that took place on August 9, 2018.

$23 for the sale of its legacy home e-commerce business to a strategic buyer and $25 for Medici
Ventures,

For an analyst ratings summary and ratings history on Overstock.com click here. For more ratings news on Overstock.com click here.

Shares of Overstock.com closed at $18.90 yesterday.

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