Torrid assumed with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Alex Straton assumed coverage of Torrid with an Equal Weight rating and $5 price target following the company’s Q3 miss, which he said "stands out" from peers and "only adds another negative data point to its rocky post-IPO trajectory." Torrid lowering its full-year guidance makes "its third consecutive cut" this year, added Straton in his assumption note.