Stitch Fix Inc. (SFIX) Long Term Thesis is Intact, PT Lowered to $75 at KeyBanc
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KeyBanc analyst Edward Yruma lowered the price target on Stitch Fix, Inc. (NASDAQ: SFIX) to $75.00 (from $95.00) noting headwinds from delivery delays and a delay to full direct buy rollout.
The analyst reiterated the Overweight rating on the belief that the longer term framework remains intact. He stated "SFIX encountered both outbound and return delays, which impacted revenue timing as well as reverse logistics. SFIX continues to fine-tune the cold start capability of direct buy as well as the overall process, and timing has been adjusted accordingly. We believe that SFIX will be a beneficiary of reopening and remains well positioned to drive continued share gains."
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