Barclays analyst Trevor Young lowered the firm’s price target on Revolve Group (RVLV) to $17 from $26 and keeps an Equal Weight rating on the shares. The firm reduced estimates, saying the company’s growth has slowed to mid-single-digits as consumer demand softens and shifts towards lower price points. Revolve has “helpful sizing” around China, particularly with owned brands, but its commentary suggests it will take time to re-domicile sourcing, the analyst tells investors in a research note.
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