Revolve Group downgraded to Hold from Buy at Jefferies

Jefferies downgraded Revolve Group to Hold from Buy with an unchanged price target of $17. The analyst says internet apparel retailers have collectively struggled in recent quarters as consumer demand trends have softened. The firm believes the macro environment is likely to continue to pressure consumer discretionary spending for the foreseeable future, and says Revolve is not immune. It cites near-term uncertainty for the downgrade.