Revolve Group price target raised to $24 from $23 at Baird

Baird analyst Mark Altschwager raised the firm’s price target on Revolve Group to $24 from $23 and keeps a Neutral rating on the shares. The firm said while management maintained a guarded tone regarding the macro, Baird came away with higher confidence that the business has reached an important inflection point in the margin structure with peaking return rates, bottoming private label mix, and improving marketing efficiencies each key drivers.