A revolving door of good newsOnline clothing designer Revolve gets picked as the “ultimate reopening” stock.
🔍 Key points:
- Equities researcher Needham initiated coverage on the fashion company with a buy rating on Thursday, handing the stock a $60 price target – a premium of over 25% on current prices.
- Revolve is the “ultimate reopening play” and is expected to carry on leveraging data to gain more market share as consumers get back to in-person events after covid, especially given its unique influencer marketing model.
- Prices lifted nearly 7% on Thursday to build on similar gains from the day before, now up over 11% for the week. The good news comes on the back of an earnings beat a few weeks back, which contributed to Needham’s bullishness.
Alexander Mueller / Pxhere
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