Torrid Holdings Inc (CURV) PT Lowered to $20 at Cowen

Cowen analyst Oliver Chen lowered the price target on Torrid Holdings Inc (NYSE: CURV) to $20.00 (from $30.00) while maintaining a Outperform rating following results.

The analyst commented, "$0.25 EPS managed to beat Street's $0.23 on GM expansion & SG&A leverage, but 3Q experienced sales pressure on supply-chain related inventory delays. Multiple is likely to contract in near-term. CURV narrowed FY21 outlook & 4Q guide is lower vs. Street on inflationary headwinds, including air freight, and potential inventory delays. Promotional & marketing execution are near-term risks..."

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