KeyBanc lowered the firm’s price target on Revolve Group (RVLV) to $32 from $35 and keeps an Overweight rating on the shares. The firm notes the company delivered a beat in the quarter. Gross margin pressure from the Revolve brand and elevated input costs will limit margin expansion through the balance of the year, which brings down KeyBanc’s gross margin/EBITDA for 2026/2027. That said, the firm remains confident in sustainability of top-line trends and Revolve’s ability to deliver double digits revenue growth for 2026.
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