As reported earlier, SunTrust analyst Youssef Squali initiated Stitch Fix with a Buy rating and a price target of $38, citing the company's use of data and "secular migration" of shoppers' focus to online channels in disrupting the U.S. Apparel, Footwear, and Accessories market. The analyst believes that the segment will generate more attention from investors and sees Stitch Fix as the leading company positioned to benefit from the trend. Squali also notes its attractive valuation at 1.7-times expected FY19 revenue and 30-times expected FY19 EBITDA.