Stitch Fix should reported better than expected Q2 results, says UBS

UBS expects Stitch Fix (SFIX) to reported better-than-anticipated Q2 results, with the firm’s channel checks suggesting Q2 sales declined high single digits, better than the market expects, the analyst tells investors in a research note. The firm thinks Stitch Fix’s Q3 revenue guide will be above the consensus revenue estimate of $279M, with a low single digit raise in revenue guidance, boosting sentiment. The firm has a $5 price target and Neutral rating on the shares.