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Barclays downgrades as “brand is notably slowing”

“We would put new money into ASOS and Zalando,” the analysts at Barclays said
In morning trading shares fell 1.8% to 214.10p PLC (LON:BOO) shares fell on Wednesday as Barclays downgraded its rating to ‘equal weight’ from ‘overweight’ saying that brand is notably slowing, but increased price target to 240p from 225p.

In a note to clients, analysts at Barclays said should accelerate as competitions ease through the year, but risks are growing and growth is getting harder. 

READ: shares drop after mixed update; sales surge due to PrettyLittleThing acquisition

Barclays says although PrettyLittleThings is ‘on fire’, the warehouse migration brings risks and Nasty gal is still small.

“With less confidence on near term upgrades to new higher forecasts, we downgrade to equal weight,” the analysts said.  

They added: “We would put new money into ASOS and Zalando.”

In morning trading shares fell 1.8% to 214.10p.



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