RVLV - Why Revolve Group Stock Was Handily Beating the Market This Week
Shares of fashion e-commerce company Revolve Group (NYSE: RVLV) were handily beating the S&P 500 this week as of Friday morning. As of this writing, Revolve stock was up about 14% for the week compared to just a 1.5% gain for the S&P 500. And it seems Revolve's outperformance stems from some commentary from Wall Street.
On Tuesday, Morgan Stanley analyst Lauren Schenk lowered her price target for Revolve stock from $28 per share to $26, according to MarketBeat. Typically, lowering a price target would hurt a stock. However, it was a small adjustment to the price target.
Moreover, Schenk maintained her hold rating on the stock, and her price target implied about 13% more upside from where it was trading at the time. Both of those factors might have instilled some confidence for investors.
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Why Revolve Group Stock Was Handily Beating the Market This Week