Stitch Fix price target raised to $6 from $4 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Stitch Fix (SFIX) to $6 from $4 and keeps a Market Perform rating on the shares. The company delivered a healthy beat in Q1 despite moderated expectations, with stronger sales, better gross margin, and well-controlled expenses, the analyst tells investors. Overall, Q1 performance is an early sign that transformation efforts are taking hold with improved marketing, higher customer acquisition, better inventory management, and more newness driving enhanced customer experience, the firm adds.