Revolve Group upgraded to Outperform from Market Perform at TD Cowen

TD Cowen upgraded Revolve Group to Outperform from Market Perform with a price target of $25, up from $23. The analyst sees an opportunity to buy a “leading Gen-Z fashion platform” after a year of markdowns and broad-based softness. Revolve has “several greenshoots,” including a eturn to growth, fuller price selling mix, sales growth above inventory growth, and stabilizing returns. Easy comparisons will support growth and margin expansion, while owned brand, new category, and international growth “provide upside optionality,” the analyst tells investors in a research note.