Stitch Fix price target raised to $6 from $5 at UBS

UBS raised the firm’s price target on Stitch Fix (SFIX) to $6 from $5 and keeps a Neutral rating on the shares. Stitch Fix delivered beats on EPS and revenue in Q1 and guidance for FY25 was raised, the analyst tells investors in a research note. The company made progress with existing and new customers, and the two newly launched private labels are showing signs of success, but revenue and active clients are still declining double digits year over year, UBS says, adding that it is waiting for more evidence management’s initiatives will be successful in consistently growing active clients.