Why Overstock.com Shares Jumped Today
Shares of Overstock.com (NASDAQ: OSTK) rose as much as 12% on Thursday. The online retailer and blockchain technology developer enjoyed a rave review from analyst firm DA Davidson.
Davidson analyst Tom Forte maintained his buy rating on Overstock's shares but doubled his target price from $33 to $66 per share. The analyst's sum-of-the-parts stress tests showed that the e-commerce division should be worth approximately $42 per share on its own, and the blockchain family of businesses could add up to $21 per share. Overstock's cash reserves and physical assets account for the remaining $3 per share.
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Source Fool.com
