Warby Parker price target lowered to $20 from $23 at Baird

Baird analyst Mark Altschwager lowered the firm’s price target on Warby Parker to $20 from $23 and keeps an Outperform rating on the shares. The analyst said 2023 revenue guidance in line with our expectations although slightly below consensus but with a stronger profit outlook as management prioritizes cost/marketing efficiency amid a sluggish and uncertain macro/category backdrop.