Rent The Runway Has First Mover Advantage: Analyst Foresees Long-Term Growth In The Era Of Circular Consumption
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Rent The Runway, Inc. (NASDAQ:RENT) with a price target of $4. The company's business model is praised for its increased demand for workwear and weekend wear. RENT anticipates better inventory positions for in-demand products starting in August and is expected to capitalize on consumer trends towards circular consumption.
June 08, 2023 | 6:29 pm
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Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Rent The Runway, Inc. (NASDAQ:RENT) with a price target of $4. The company is expected to capitalize on consumer trends towards circular consumption.
The analyst's Outperform rating and positive outlook on RENT's business model, along with the company's anticipation of better inventory positions for in-demand products starting in August, suggest a positive short-term impact on the stock price. Additionally, RENT's potential to capitalize on consumer trends towards circular consumption further supports the positive impact.
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