tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Warby Parker price target raised to $22 from $17 at Citi

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.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1