Stitch Fix got a rating upgrade from Goldman Sachs analyst Heath P. Terry, leading to the shares climbing Friday.
Terry raised his rating on the online personal styling company’s stock to buy from neutral. According to Terry, the company’s strong database is helping it to retain customers and drive sales.
The analyst indicated that Stitch Fix’s repeat customers and its new product developments, such as options for customers to pick additional colors, prints and sizes of previously purchased items, are strong tailwinds to the company’s stock price.