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$IMBI B.Riley upgraded (IMBI) to buy and raised target to $5 from $1.50

Current price .90

B. Riley Securities Upgrades iMedia Brands to Buy from Neutral After Meeting with CEO; Raises PT to $5 from $1.50
Thursday, September 15, 2022 12:46:15 PM (GMT)

08:46 AM EDT, 09/15/2022 (MT Newswires) -- B. Riley Securities upgraded iMedia Brands (IMBI) to buy from neutral and raised the price target to $5 from $1.50 after meeting with Chief Executive Officer Tim Peterman for a mid-quarter update.

The firm, in a Thursday research report, wrote that it came away from the meeting with increased optimism on AEBITDA growth and cash flow outlook heading into 2023.

The firm wrote that the potential for a near-term combination of a resolution to the Dish Network carriage agreement negotiation and completed sales-leaseback transactions should boost the AEBITDA and cash flow outlook, "bolster the balance sheet and provide a clearer path to balance sheet deleveraging."

iMedia Brands has an average rating of buy and price targets ranging from $3 to $11, according to analysts polled by Capital IQ.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)