Truist analyst Youssef Squali lowered the firm’s price target on Stitch Fix to $3.50 from $4 and keeps a Hold rating on the shares. The company’s Q2 results were in-line with “muted” estimates, while its outlook for Q3 and FY24 was worse than expected, the analyst tells investors in a research note. Stitch Fix business remains a work-in-progress amid a tough macro, an ongoing repositioning, and execution challenges, the firm added.
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