Lulu’s Fashion Lounge initiated with a Buy at BTIG

BTIG analyst Janine Stichter initiated coverage of Lulu’s Fashion Lounge with a Buy rating and $5 price target. The company’s business model should benefit from secular tailwinds, the analyst tells investors in a research note, also stating that it still in the earlier stages of capitalizing on its growth potential. The firm adds that Lulu’s Fashion Lounge remains solidly profitable and free cash flow generative and contends that this has been overlooked by the market amid a profitability-challenged peer group.