Stitch Fix price target raised to $5 from $2.80 at UBS

UBS raised the firm’s price target on Stitch Fix (SFIX) to $5 from $2.80 and keeps a Neutral rating on the shares. The firm’s channel checks suggest Q1 sales declined double digits, but were likely better than the market anticipates, the analyst tells investors in a research note. The firm expects sales fell 14.1% vs. the consensus 15.9% estimate, with Q1 EPS 3c ahead of the consensus (15c) view, while UBS believes Q2 revenue guidance will bracket consensus revenue estimate $284M and that Stitch Fix will maintain its fiscal 2025 guidance given its early in the fiscal year.