Torrid price target raised to $6 from $5 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Torrid to $6 from $5 and keeps a Market Perform rating on the shares. The company delivered strong Q4 performance, with better-than-expected sales and gross margin, the analyst tells investors. While its FY24 topline guidance missed expectations, the firm continues to see an opportunity for Torrid amongst specialty apparel retailers. However, there is still an uncertain macro environment heading into the new year and muted topline growth, Telsey adds.