Fly News Breaks for February 27, 2020
Feb 27, 2020 | 07:34 EDT
As previously reported, Morgan Stanley analyst Kimberly Greenberger downgraded Revolve Group to Equal Weight from Overweight with a price target of $20, down from $24. The company's "disappointing" Q4 performance and 2020 outlook make it seems that initial growth targets may not be achievable and she recommends moving to the sidelines until the company proves it can deliver growth in-line with market expectations, Greenberger tells investors. The market has quickly priced in mid-teens topline growth, but she sees limited visibility to that being possible, the analyst added.
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