Torrid Holdings Inc (CURV) PT Lowered to $6 at BofA Securities

BofA Securities analyst Lorraine Hutchinson lowered the price target on Torrid Holdings Inc (NYSE: CURV) to $6.00 (from $7.00) while maintaining a Buy rating.

The analyst comments "CURV reported 2Q EPS of $0.02, in line with our/VA cons of $0.01/$0.02. Mgmt lowered F25 guidance to net sales of $1.015-1.030 (was $1.030-1.055bn) and $80-90mm adj. EBITDA (was $95-105mm) due to an uncertain macro as well as margin pressure from tariffs and incremental marketing investments to drive sales. We reiterate our Buy rating given confidence in the longer-term sales turnaround strategy and earnings power. We are lowering our F25/F26 EBITDA estimates by 16%/14% (see Exhibit 1) to reflect the margin pressures and lowering our PO to $6 (was $7), still based on 9x F26E EV/EBITDA."

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