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MarketWatch MarketPulseAug 13, 2020
Millennial-focused retailer Revolve upgraded as a quick inventory shift makes up for a drop in dress sales, stock jumps 18%
Revolve Group Inc. shares jumped 18% in Thursday trading after the millennial- and Gen Z-focused apparel retailer reported record-setting earnings of 20 cents per share, adjusted earnings of 18 cents per share and talked up the opportunities for the e-commerce business despite COVID-19. "[S]ocial distancing restrictions result in fewer opportunities to purchase outfits for special occasions outside the home, such as dresses, which is REVOLVE's largest product category," said Co-Chief Executive Michael Mente on the earnings call, according to FactSet. The company now sees opportunity in the beauty category and other areas, and has been helped by a swift inventory adjustment after the company began to be pressured by the coronavirus pandemic. Still, there is growth potential in traditional categories as the consumer spending environment improves. "We expect growth to accelerate further as social distancing eases and should be a key driver for its core dresses category," wrote Raymond James analysts in a note. Raymond James upgraded Revolve stock to strong buy from outperform, with a price target of $32, up from $18. "Revolve remains well positioned as the fashion market increasingly shifts online and this has accelerated with the pandemic," Raymond James said. BMO Capital Markets raised its price target to $18 from $11, maintaining its market perform stock rating. And Cowen analysts moved their price target to $28 from $19 and maintained their outperform stock rating. "New at-home product, innovative marketing engagement, reduced marketing spend, and lower than expected returns more than offset lower performance in dresses," analysts led by Oliver Chen wrote. Revolve stock has gained 25.3% for the year to date while the S&P 500 index is up 4.7% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessAug 13, 2020
3 Big Dividend Stocks Yielding Over 8%; Analysts Say ‘Buy'
After a strong day trading, markets are hovering near record levels. The S&P 500 is just 0.5% off its highest level ever. So as far as the stock markets can show, there is no economic recession. Things are looking up.Of course, we all know that the crises haven't ended. The coronavirus is still out there. While daily data shows that the number of cases is starting to decline, there remains a strong public fear of the virus. Early efforts to control corona pushed us into an artificial recession - a sort of economic medically induced coma - that we're now starting to climb out from. Yet, jobs are returning -- the July employment numbers beat the expectations -- so perhaps that stock market optimism is justified after all.Justified or not, in times like these a smart investor protects his portfolio. You don't have to go full-on prevent with the defensive plays, but finding some solid dividend stocks will shore up your portfolio's income stream, making it more resilient against a variety of market pressures.With this in mind, we used the TipRanks database to pull up the stats on three stocks that analysts have tapped as buying propositions. These are stocks with a specific set of clear attributes, that frequently indicate a strong defensive profile: a high dividend yield — over 8%; and a considerable upside potential.Holly Energy Partners (HEP)We'll start in the energy industry, where Holly Energy Partners provides transportation services - pipelines, terminalling, and storage - for crude oil and petroleum distillate
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