UPDATE: Evercore ISI Starts Stitch Fix, Inc. (SFIX) at Outperform, Added to Evercore ISI’s Best SMiD Long Term 'Core' Ideas
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Evercore ISI analyst Mark Mahaney initiates coverage on Stitch Fix, Inc. (NASDAQ: SFIX) with a Outperform rating and a price target of $78.00.
The analyst comments "A COVID recovery play as closets need to be restocked. FY21 and FY22 should both experience rev growth acceleration. And Direct Buy functionality provides catalyst in terms of customer retention. Taking advantage of recent 40% pullback. We are adding SFIX to Evercore ISI’s Best SMID Long Term "Core" Ideas."
Shares of Stitch Fix, Inc. closed at $49.27 yesterday.
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