Boohoo Group PLC (AIM:BOO), now operating under the Debenhams brand (DEBS.L), saw its shares fall 7% to 16.68p after Deutsche Bank lowered its price target from 26p to 15p and maintained a 'sell' rating.
The downgrade reflects mounting concerns over the group’s lack of financial visibility and uncertain outlook.
The business announced a rebrand to Debenhams in March, but has yet to deliver full-year results for the period ending February or set out clear expectations for its new, platform-focused business model.
Investors are still waiting for detail on how a shift to a “capital-light” approach, prioritising third-party marketplace sales over holding stock, could shape future growth and margins.
Deutsche flags several additional risks: the absence of trading updates, media speculation around refinancing needs, and exposure to higher US tariffs following the removal of the de minimis threshold for small parcel imports.
With shares down roughly 50% since the start of the year, Deutsche says it remains cautious. Until management provides clearer guidance and results, the stock is likely to stay in the doldrums.
In afternoon trading, the shares were off 1.22p at 15.46p.