1stDibs upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Mark Mahaney upgraded 1stDibs to Outperform from In Line with a price target of $8, up from $6. The company is beginning to benefit from “three promising trends”: signs that the macro environment might be beginning to improve for home furnishings, a number of self-help initiatives which are improving conversion rates, and an improved cost structure, the analyst tells investors in a research note. The firm sees these three trends combining to create a “value catalyst” for 1stDibs shares.