Why Stitch Fix Shares Are Soaring Today

Stitch Fix (NASDAQ: SFIX) is ending the week on a high note thanks to a bullish analyst review. The online personal styling service's shares rose as much as 15.4% on Friday before backing down to a 12.9% gain as of 2:15 p.m., EST.

Analyst firm KeyBanc raised its price target on Stitch Fix from $65 to $95 per share early Friday morning. KeyBanc analyst Edward Yruma also reiterated his overweight rating on the stock, which means that he recommends accumulating Stitch Fix shares because they should beat the broader market over the next year or so. In Yruma's view, Stitch Fix shares are attractively priced at 3.9 times forward sales and 8.6 times trailing gross profit.

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Source Fool.com