Evercore ISI analyst Michael Binetti raised the firm’s price target on Revolve Group (RVLV) to $21 from $19 and keeps an In Line rating on the shares following Q3 results the firm calls “a mixed bag,” including a solid EBITDA beat offset by a slight revenue miss. While the Q3 EBITDA performance was “robust,” Revolve needs to demonstrate that upcoming initiatives can translate into a meaningful sales acceleration to justify a higher valuation, the analyst argues.
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