BTIG analyst Janine Stichter lowered the firm’s price target on Lulu’s Fashion Lounge to $4 from $5 but keeps a Buy rating on the shares. The company’s Q4 results were mixed with revenue upside, but a weaker gross margin, as its management opted to remain competitive on promos to keep pace with the broader environment, the analyst tells investors in a research note. The firm adds however that even in a challenging year, Lulu’s Fashion Lounge remains profitable and free cash flow-generative, which is allowing for continued re-investment in the business.
Published first on TheFly
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