RBC Reaffirms 'Outperform' Rating on Reformation Stock

Reformation (NYSE:REF) stock received an 'outperform' rating from research analysts at Royal Bank Of Canada, according to a report issued on Friday. The bank has set a $18.00 price target for the stock, which indicates a potential upside of 33.93% from its current price.

This is not the first time Reformation's stock has received an 'outperform' rating. Robert W. Baird initiated coverage on shares of Reformation in August and set an 'outperform' rating with a $19.00 target price.

Reformation reported better-than-expected quarterly earnings, with adjusted earnings per share of $0.23 surpassing the consensus estimate of $0.20. The company's revenue was also higher than expected, increasing 24.1% year over year to $155.23 million.