BTIG Starts Reformation Inc (REF) at Buy

BTIG analyst Janine Stichter initiates coverage on Reformation Inc (NYSE: REF) with a Buy rating and a price target of $20.00.

The analyst comments "We initiate coverage of Reformation with a Buy rating and $20 PT. Founded in 2009, Reformation has scaled into the largest sustainable womenswear brand via its DTC-centric model. With a strong, consistent track record for growth, we see this continuing as the brand capitalizes on numerous remaining opportunities, including new stores, category expansion, wholesale, and international. Reformation brings competitive advantages across design and sourcing that make its business more stable and predictable than most traditional apparel brands. Looking ahead, we forecast sustainable mid-to-high-teens % top-line growth, among the strongest in the peer group, with margins re-expanding. REF shares trade slightly below the group average and below peers with similar growth, providing an attractive entry point as the company executes against its growth initiatives."

For an analyst ratings summary and ratings history on Reformation Inc click here. For more ratings news on Reformation Inc click here.

Shares of Reformation Inc closed at $14.48 yesterday.

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