Bark upgraded to Buy from Hold at Jefferies

Jefferies upgraded Bark to Buy from Hold with a price target of $1.90, up from $1.54. The outlook for the company has changed since the firm initiated its coverage of the stock as Bark boasts a favorable set-up going into FY25, providing better top-line, profit and margin visibility, the analyst tells investors in a research note. The firm adds that it sees Bark reaching full-year adjusted EBITDA and EPS profitability by FY25 and FY26.