Stitch Fix Is no Longer a Buy, Says Prominent Analyst
One noted stock analyst has scratched Stitch Fix (NASDAQ: SFIX) off his holiday gift list. After market hours on Thursday, it was reported that Goldman Sachs (NYSE: GS) prognosticator Heath Terry downgraded his recommendation on the stock to neutral from the previous buy. Meanwhile, he's maintaining his $58 per-share-price target.
It's not that Terry believes the company lacks potential. In fact, he delivered the following more upbeat statement:
We continue to believe the opportunity for StitchFix is significant as the apparel category recovers and the share shift to e-commerce that has happened during the pandemic becomes more apparent, operations normalize, incremental revenue streams like Direct Buy outgrow the core, and retail store closures further force consumers online.
Source Fool.com
