ThredUP price target lowered to $2 from $3 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on ThredUP (TDUP) to $2 from $3 and keeps an Outperform rating on the shares. The company’s Q3 results represented a “marked improvement” from Q2 and the firm is encouraged by the quarter’s stronger topline and EBITDA results, the analyst tells investors. The firm continues to see a long-term benefit from the company’s positioning in the fast-growing resale market but is trimming its price target on the stock due to near-term headwinds.