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Fly News Breaks for December 11, 2018
SFIX
Dec 11, 2018 | 07:55 EDT
RBC Capital analyst Mark Mahaney lowered his price target on Stitch Fix to $39 after its Q1 results, saying that while its earnings beat consensus and revenue growth accelerated, the company's Active Clients of 2.93M were below expected 2.95M. The analyst keeps his Outperform rating on the shares, also citing Q1 gross margins reaching a 2-year high with a 140bps expansion and operating efficiency being improved by the "automation integration in the Phoenix fulfillment center".
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