Revolve Group upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Edward Yruma upgraded Revolve Group to Overweight from Neutral with a price target of $21, up from $16. The analyst believes more controlled inventory and likely improvements in return rates will help drive gross margin expansion. The firm also thinks a “rapidly consolidating/collapsing” luxury online space will offer significant long-term opportunity for Revolve’s FWRD segment.