Stitch Fix price target lowered to $3.50 from $4 at Bernstein

Bernstein lowered the firm’s price target on Stitch Fix to $3.50 from $4 and keeps a Market Perform rating on the shares. The analyst says that after a “tough” fiscal Q2 with a small miss and a bigger second half of the year guidance cut, Stitch Fix is still several quarters away from positive growth. As management prioritizes quality over quantity, they are churning out low-value customers and adding in fewer higher-value ones, the analyst tells investors in a research note.