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Fly News Breaks for December 10, 2019
Dec 10, 2019 | 17:12 EDT
DA Davidson analyst John Morris initiated coverage of Revolve Group with a Neutral rating and $19 price target, saying the company is going through "growing pains" in adjusting its inventory and investing for future growth - trends which are expected to linger for several more quarters. The analyst further cites his limited visibility on Revolve Group's earnings re-acceleration amid elevated inventory, which has grown faster than sales, and compressed gross margin upside that would justify a higher multiple.
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