Proactive Investors - Run By Investors For Investors

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.



View full BOO profile View Profile

boohoo group plc Timeline

Related Articles

Scans and MRI
November 28 2018
The firm's subsidiary, Imaging Biometrics, recently appointed a South Korean distributor a few weeks after receiving the first commercial order for its StoneChecker technology
“I think customers are seeing that we do offer value and that really is the answer,” said chief executive John Nichols

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use