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Why Stitch Fix Was Running 12% Higher This Week

TheMotleyFool

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Why Stitch Fix Was Running 12% Higher This Week: https://g.foolcdn.com/editorial/images/716331/online-shopping-e-commerce-getty.jpeg

Shares of Stitch Fix (NASDAQ: SFIX) jumped 12.6% this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after the online apparel subscription service received a ratings upgrade from Wall Street.

Last Friday, Wells Fargo (NYSE: WFC) analyst Ike Boruchow upgraded Stitch Fix to equal weight from underweight and set a $4 price target. That would represent a 14% gain from where the stock was trading just before the announcement. Stitch Fix shares are trading at $4.14 per share at 11:06 a.m. ET today.

Image source: Getty Images.

Source Fool.com

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