UPDATE: Piper Jaffray Lowers Price Target On ValueVision To $9

According to Piper Jaffray, ValueVision Media (NASDAQ: VVTV) price target is lowered to $9.

Piper Jaffray said that it is reiterating its Overweight rating and lowering the price target from $12 to $9 following the company's FQ2 report. “We continue to believe that VVTV is on track to earn $1 per share within the next five years.”

ValueVision Media closed yesterday at $5.20.