ThredUP price target lowered to $8 from $10 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on ThredUP (TDUP) to $8 from $10 and keeps an Overweight rating on the shares. The firm acknowledges another solid quarter from ThredUP, though it does get its “first read into some potential consumer red flags arising.” All in, Wells sees good growth and full year numbers moving up, but consumer caution a callout.