UPDATE: UBS Assumes Coverage on The RealReal Inc. (REAL), Downgrades to Neutral

December 2, 2021 4:18 AM EST
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Price: $10.67 -2.47%

Rating Summary:
    14 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 28 | New: 8
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(Updated - December 2, 2021 4:33 AM EST)

UBS analyst Kunal Madhukar assumes coverage on The RealReal Inc. (NASDAQ: REAL) with a Neutral rating (from Buy) and a price target of $17.00.

The analyst comments "We assume coverage of The RealReal (REAL) shares with a Neutral rating and $17 price target. We get the investor concerns around growth (which includes scalability, but growth concerns seem to have ebbed recently) and path to profitability (where the 18 month target, however vague, seems ambitious) however our analysis suggests that Street consensus, which calls for EBITDA breakeven in late 2023/2024, may actually be reasonable. We think as investors have more visibility into the path to profitability -- which we hope to get at the 4Q21 earnings in February 2022 -- there is scope for significant multiple expansion."

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

Shares of The RealReal Inc. closed at $14.10 yesterday.


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