Warby Parker upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded Warby Parker (WRBY) to Buy from Neutral with a price target of $18, up from $15. The firm sees “several emerging tailwinds” within the Warby Parker business, including scaling of covered lives through recent insurance partnerships which are set to scale into 2025, signs of emerging strength in the optical industry overall where the company is gaining share, and a more robust margin outlook. Warby is also beginning to deliver greater growth in active customer growth, the analyst tells investors in a research note.