Baird analyst Mark Altschwager lowered the firm’s price target on Lulu’s Fashion Lounge to $5.50 from $7.00 and keeps an Outperform rating on the shares. The analyst said we’re trimming our estimates and price target to reflect below-consensus 2023 guidance and a weak sentiment/valuation backdrop for fashion ecommerce. While growth/margins are depressed near term amid a slowing macro and tough comparisons, we’re encouraged by cost management and an improving FCF picture.
Published first on TheFly
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