B. Riley starts ‘undiscovered, underappreciated’ Torrid with Buy

B. Riley initiated coverage of Torrid with a Buy rating and $7 price target, representing 35% upside potential. The analyst believes Torrid is a “largely undiscovered, underappreciated company and stock.” Torrid is a vertically integrated apparel and accessory brand and omni-channel retailer serving plus-sized women in their mid-20s to early 40s, the analyst tells investors in a research note. The firm says the company “represents a rare mix” of a favorable business model with attractive competitive dynamics, organic growth potential, and timely company-specific profit drivers in the early stages of playing out.