Torrid downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Brooke Roach downgraded Torrid (CURV) to Sell from Neutral with a price target of $4, down from $5.50. The firm is encouraged by the strategic actions Torrid management is taking to reinvigorate the business, but believes the company is more exposed to slowing U.S. growth relative to others. Torrid’s core consumer will be impacted to a greater degree as their spending priorities shift away from self-purchases, the analyst tells investors in a research note. Goldman says it has already seen a slowdown in net purchase intent trends for the brand year-to-date. It believes Torrid’s core customer over-exposed to macro uncertainty.