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Stitch Fix upgraded to Equal Weight from Underweight at Wells Fargo
The Fly

Stitch Fix upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo analyst Ike Boruchow upgraded Stitch Fix to Equal Weight from Underweight with a $4 price target. The space is coming off its worst year since the global financial crisis as demand broke down, inventory ballooned, and costs spiked, and Boruchow sees a very challenging catalyst path heading into 2023, the analyst tells investors in a research note. Additionally, holiday results were likely "OK" at best, and with a difficult Q1 setup looming, Street numbers that will likely be coming down on weaker initial guidance, the analyst contends.

Published first on TheFly

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