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Fly News Breaks for July 2, 2019
Jul 2, 2019 | 08:40 EDT
RBC Capital analyst Mark Mahaney lowered his price target for Stitch Fix (SFIX) to $43 from $52 and reiterated a Market Outperform rating. In a research note to investors, the analyst says is he incrementally positive on Stitch Fix following his firm's second survey of over 2,000 consumers, including around 150 Stitch Fix customers, saying there appears to be growing interest in Online clothing subscription services and the two services within this category that are most frequently used are Amazon Wardrobe (AMZN) and Stitch Fix. While the survey results are positive for Stitch Fix, Mahaney says they also clearly highlihgt the competitive risk of Amazon.