Lovesac price target lowered to $35 from $44 at DA Davidson

DA Davidson lowered the firm’s price target on Lovesac (LOVE) to $35 from $44 and keeps a Buy rating on the shares. The company’s Q3 results were largely disappointing, with the stock giving back some of the year-to-date gains, the analyst tells investors in a research note. Lovesac saw double-digit growth in customer quotes, but conversion times extended as consumers may be focusing their wallets on holiday spending and pushing larger discretionary purchases to next year, the firm states, adding that an increased promotional environment has also hurt sales.