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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 08:41 EDT
Jefferies analyst Randal Konik lowered the firm's price target on Revolve Group to $25 from $60 after the company reported lower than expected sales and gross margins in Q4, telling investors that he "cannot ignore the fact that metrics have softened across many key areas." Gross margins being down show that the business is struggling with momentum and "China risk doesn't help either," Konik stated. However, he keeps a Buy rating on the shares as he still believes Revolve's disruptive commerce and marketing platform can allow it to gain share in the "fragmented" fashion industry.
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