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Fly News Breaks for November 8, 2019
RVLV
Nov 8, 2019 | 10:22 EDT
Raymond James analyst Aaron Kessler lowered his price target for Revolve Group to $30 from $40 saying the company's Owned brands growth slowed in Q3. This drove higher Owned brands inventory and lower full price sales, which also negatively impacted gross margins, Kessler tells investors in a research note. The analyst, however, believes Revolve Group's valuation remains attractive and he keeps an Outperform rating on the shares.
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