UBS analyst Jay Sole raised the firm’s price target on RealReal to $3.70 from $2.30 and keeps a Neutral rating on the shares after assuming coverage of the name. The company’s EBITDA turned positive in Q4 and beat expectations, showing management’s profitability improvement strategy is working, the analyst tells investors in a research note. At the same time, RealReal’s top-line remains challenged, and while it should return to revenue growth in FY24, UBS sees risk that the company’s top-line falls short of expectations.
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