JD Sports Fashion PLC (LSE:JD.) rose around 2% on further positive commentary after yesterday’s well-received results.
Bank of America has reiterated a 'buy' rating and 233p price target, compared to the 147.50p share price today.
“We think JD’s robust trading and unchanged guidance is encouraging amidst a backdrop of disappointing results from US peers in recent weeks, having cited market challenges,” BofA said.
It said the results “reaffirm our conviction in what we deem is a best-in-class sportswear retailer with compelling valuation.”
BofA highlighted progress with store roll-outs, the potential for an extension to its loyalty card, and that the new distribution centre in Derby was on track to fulfil most UK online orders ahead of peak trading in the fourth quarter.