Revolve Group price target lowered to $21 from $25 at Raymond James

Raymond James lowered the firm’s price target on Revolve Group (RVLV) to $21 from $25 and keeps an Outperform rating on the shares. Revolve reported Q1 revenue in line and beat on EBITDA, but growth has slowed from +10% in Q1 to up mid-single digits in April as more cautious consumers are opting to buy products that are less costly and marked down, the analyst tells investors in a research note. The company’s long-term opportunities are intact across revenues and margins, the firm argues.