Warby Parker assumed with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Alex Straton assumed coverage of Warby Parker with an Equal Weight rating with a price target of $12, up from $11, arguing that the company’s Q4 beat "comes as no surprise." The company’s fiscal year guidance is a "reasonable starting point" in light of recent trends and macro uncertainty, but the path to profitability and achievability of its long-term targets "remain in question," the analyst tells investors.