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  • August 4, 2023

Benchmark analyst Michael Legg initiated coverage on the shares of Haverty Furniture Companies Inc (NYSE:HVT) with a Buy rating and announced a price target of $41.

HVT is a family-controlled furniture retailer in the Southeast, operating 123 stores in 16 states.

After strong sales during COVID, current financial metrics are clouded and not fully understood by investors on return to a more normal operating environment, opined the analyst.

While comps look weak, they actually are cycling against abnormally high revenue growth related to COVID and compare favorably versus pre-pandemic levels, said the analyst.

According to the analyst, internal initiatives, including

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