Sunglass maker Warby Parker hits near 2-mth high after Evercore upgrades to "outperform"

Warby Parker

03/10/2023 15:44

** Shares of sunglass maker Warby Parker  WRBY.N  rise as
much as ~12% to $14.86, highest since Aug.9, after Evercore ISI
upgrades to "outperform" from "in line"
    ** Evercore expects revenue and margin growth in 2024 helped
by product and marketing growth
    ** "We believe 2024 is likely to be an inflection year for
Warby, in terms of revenue growth and EBITDA margin expansion,"
- brokerage
    ** Evercore estimates 40 store openings in 2024, bringing
total store count to 280, or 17% y-o-y growth that should
support retail sales growth
    ** WRBY up 5.26% YTD

 (Reporting by Siddarth S in Bengaluru)
 ((Siddarth.s@thomsonreuters.com;))