Warby Parker price target raised to $22 from $18 at Piper Sandler

Piper Sandler raised the firm’s price target on Warby Parker (WRBY) to $22 from $18 and keeps an Overweight rating on the shares following third quarter earnings. China sourcing has been coming down and is approximately 20% of cost of goods sold; given Warby’s compelling value proposition, Piper views demand as largely inelastic, the firm told investors.