Revolve Group price target raised to $24 from $22 at BTIG

BTIG raised the firm’s price target on Revolve Group to $24 from $22 and keeps a Buy rating on the shares. The key investor overhang on the stock has been the threat from the growth of ‘ultra-fast-fashion’ retailers such as Shein, which offer a frequent flow of on-trend styles at extremely low-pricing, but the firm contends that the potential headwinds may be over-stated, the analyst tells investors in a research note. Customer overlap for Revolve vs. Shein remains significantly below legacy fast-fashion players and online mass merchants, suggesting Shein attracts a consumer that prioritizes price, while Revolve largely attracts a different consumer that prioritizes selection, the firm added.