Citi raised the firm’s price target on Warby Parker (WRBY) to $22 from $17 and keeps a Neutral rating on the shares. The company announced it will be partnering with Google to develop artificial intelligence-powered glasses designed for all-day wear, driving the stock up 16%, the analyst tells investors in a research note. The firm says Google has committed up to $75M for the development and commercialization of the glasses with part of the money available immediately. Importantly, since launching in Sep 2023, Ray-Ban Meta glasses have sold over 2M units, Citi adds.
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