Beyond price target raised to $13 from $10 at Wedbush

Wedbush raised the firm’s price target on Beyond (BYON) to $13 from $10 and keeps an Outperform rating on the shares ahead of quarterly results. Beyond has essentially completed its endeavor to lower fixed costs, improve profitability, and grow its business, positioning the company to drive significant shareholder value in the next few years, the firm says. While Wedbush doesn’t expect a step change in growth rates near term, it expects consistent revenue and profitability improvement over the course of 2025 as Overstock.com grows its close-out business, Bed Bath & Beyond and Buy Buy Baby penetrate customers in different life stages, and gross margins expand following the elimination of unprofitable SKUs.