LOVE - BTIG hikes price target on Lovesac after meeting with management

BTIG turns more constructive on Lovesac (LOVE) after meeting with management.Analyst Camilo Lyon: "The tone of the meetings was positive both on current momentum in the business and the vast long term opportunity for LOVE. Recall, at just over ~$300M in sales this year, LOVE's share of the U.S. sofa market is just 1%. Given LOVE's unique product positioning (via patent protected modular sofas) that is supported by its "designed for life" ethos, we see growing adoption continuing at an accelerated pace for the foreseeable future."Lyon and team model 27% annual revenue growth for the next two years as Lovesac's brand awareness grows, new customers come to the brand, and new product introductions give existing customers more reasons to shop the brand. They also see gross margin tailwinds stemming from an increasingly diversified manufacturing base and two recently added distribution centers.BTIG keeps a Buy rating on Lovesac and boosts the

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BTIG hikes price target on Lovesac after meeting with management