Warby Parker upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Mark Mahaney upgraded Warby Parker to Outperform from In Line with a $20 price target. The analyst sees a “fundamental inflection story” based on Warby’s product marketing developments. The company can post upside to Street estimates and has an “intrinsically attractive and asymmetrical risk-reward outlook,” the analyst tells investors in a research note. The firm says the stock’s growth-adjusted valuation is highly attractive versus peers.