Bobs Discount Furniture initiated with a Buy at DA Davidson

DA Davidson initiated coverage of Bob’s Discount Furniture with a Buy rating and $26 price target The firm says the company is operating in a “large and fragmented industry on the verge of recovery.” Bob’s is seeing share gains through its “differentiated” positioning and has an under-penetrated store footprint, the analyst tells investors in a research note. DA believes the company should see above-average growth and notes its shares are trading at a discounted multiple.