Morgan Stanley lowered the firm’s price target on Rent The Runway to $1 from $3.50 and keeps an Equal Weight rating on the shares. Elevated out-of-stock levels led to a miss on topline and subscribers in Q2, notes the analyst, who thinks the stock “likely remains a show-me story” until the company can deliver both growth and profitability.
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Read More on RENT:
- Rent The Runway price target lowered to $4 from $6 at Piper Sandler
- Telsey downgrades Rent The Runway on ‘stark’ sales slowdown
- Rent The Runway price target lowered to $4 from $8 at Wells Fargo
- Rent The Runway downgraded to Market Perform from Outperform at Telsey Advisory
- Rent The Runway price target lowered to $3 from $4 at Barclays