Boohoo.com 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.
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 Boohoo.com shares fell 1.8% to 214.10p.