Rent The Runway price target lowered to $1 from $4 at Wells Fargo

Wells Fargo lowered the firm’s price target on Rent The Runway to $1 from $4 and keeps an Overweight rating on the shares. Rent The Runway’s Q3 results were mixed, with revenues below Street, while EBITDA beat as subs were pressured off lower promos, the firm says. Management also announced new debt terms, Wells adds.