Stifel analyst Jim Duffy raised the firm’s price target on Warby Parker (WRBY) to $21 from $18 and keeps a Hold rating on the shares. The partnership with Google’s (GOOGL) Android XR represents Warby’s entry into the wearable technology market and the integration of Google’s AI technology “further elevates Warby Parker’s disruptive brand perception and strengthens its technological credibility,” the analyst tells investors. With a greater total addressable market upon commercialization beyond 2025 and credible backing, the firm sees Warby as deserving of a more premium multiple, but remains comfortable at Hold given execution risk, the analyst added.
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