Revolve Group initiated with a Sell at Goldman Sachs

Goldman Sachs initiated coverage of Revolve Group with a Sell rating and $12 price target. Revolve is an online fashion retailer that primarily targets Millennial and Gen Z female consumers across the premium and luxury segments through its two digital platforms, the analyst tells investors in a research note. The firm sees a less attractive 12 month risk/reward, saying the pressure seen across the high-end online apparel industry could persist and lead to further downward revisions to Street estimates.