Warby Parker initiated with an Outperform at Wolfe Research

Wolfe Research analyst Greg Badishkanian initiated coverage of Warby Parker with an Outperform rating and $20 price target. The $44B optical retail market is "recession resistant and highly fragmented," Badishkanian tells investors in a research note. The analyst see a "multi-year unit growth opportunity with upside from vision care offerings" for Warby Parker.