Reed’s price target raised to $2 from $1.75 at Roth Capital

Roth Capital raised the firm’s price target on Reed‘s (REED) to $2 from $1.75 and keeps a Buy rating on the shares. The company continues to make progress in its turnaround efforts, including cleaning up the balance sheet, stabilizing revenue, and taking advantage of drastically reduced operating costs, the analyst tells investors in a research note. The firm says the target increase reflects a “somewhat more optimistic view of where the stock can go from here.” Roth expects the stock to continue trading higher.