As previously reported, Wells Fargo upgraded RealReal (REAL) to Overweight from Equal Weight with a price target of $15, up from $4. The firm is also raising 2025 revenues/EBITDA above Street. The story has changed, and the market has not fully caught up yet, Wells says. As the margin structure has shifted and top-line growth is re-accelerating, the firm sees material room to run from here.
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