Craig-Hallum analyst Alex Fuhrman lowered the firm’s price target on iMedia Brands to $2 from $4 and keeps a Buy rating on the shares. Results in Q4 and Q1 guidance is significantly less than previously modeled due to significantly reduced inventory to preserve liquidity, but Craig-Hallum expects results to improve throughout the year as inventory is replenished now that the sale-leaseback has been completed, the analyst tells investors in a research note.
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Published first on TheFly
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