William Blair initiated coverage of RealReal (REAL) with an Outperform rating. The firm views the resale market as one of the biggest emerging trends in retail. RealReal has an “advantaged platform” in the luxury resale space, the analyst tells investors in a research note. William Blair says that bybuilding a leading authentication process after 14 years of operations, RealReal has “gained deep-seated trust from which it can now invest more in engagement and efficiency.” On improving efficiency, the analyst projects 40% annualized earnings growth in the next three years for RealReal.
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