Maxim bullish on GigaCloud, initiates with a Buy As previously reported, Maxim initiated coverage of GigaCloud with a Buy rating and $69 price target. GigaCloud Technology empowers suppliers and resellers to deliver large-parcel merchandise to consumers with fewer touch points and lower costs. The network effect from adding suppliers and resellers to its business-to-business marketplace and its own first-party efforts has enabled it to grow much faster than the furniture category, and the firm expects market share gains to continue. Maxim believes GigaCloud can generate 10%-15% organic sales growth over the next 3-5 years compared to a mid-single-digit normalized category rate
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