Warby Parker price target raised to $13 from $12 at Morgan Stanley

Morgan Stanley analyst Alex Straton raised the firm’s price target on Warby Parker to $13 from $12 and keeps an Equal Weight rating on the shares. Q2 beat expectations and the company raised FY23 guidance, which still “appears conservative,” but the beat was met with a 4% stock decline given pre-print outperformance and “likely unchanged Street” fiscal year numbers, the analyst tells investors. The firm’s rating reflects what it sees as a “still-unclear path” to profitability and long-term targets, the analyst noted.