Warby Parker price target lowered to $16 from $24 at Morgan Stanley

Morgan Stanley analyst Alex Straton lowered the firm’s price target on Warby Parker (WRBY) to $16 from $24 and keeps an Equal Weight rating on the shares. The firm says that a lower-quality Q1 beat and full-year guidance cut underscores its limited conviction in Warby Parker’s near-term beyond financial profile. Alongside potential full year guidance risk and the company’s volatile track record in an increasingly uncertain macro, Morgan Stanley stays on the sidelines.