Benchmark Initiates Coverage On Overstock.com

According to Benchmark, Overstock.com (NASDAQ: OSTK) coverage is initiated with $18 price target.

Benchmark reported that it initiates coverage of Overstock.com (OSTK) with a Buy rating and an $18 per share price target. “Overstock is a pure-play Internet ecommerce liquidation company with a recognized brand name, breadth of product offerings with 906,000 SKUs and new initiatives including international, private sales and travel deals. As Overstock shows reliable revenue and cash flow growth at a high-single to low-double digit y/y rate, we believe the stock will appreciate.”

Overstock.com closed yesterday at $14.51.