viewBoohoo Group PLC

boohoo still an attractive stock, says Barclays

Analysts said the current valuation underestimates the progress made on ESG fronts

Boohoo Group PLC - boohoo still an attractive stock, says Barclays

boohoo Group PLC (LON:BOO) has an attractive valuation but is trading well below historical multiples despite all the progress being made on the ESG front, according to Barclays.

The investment bank said lumpy comparatives from last year and varied lockdown conditions in different markets make “accurate forecasting somewhat challenging” for financial year 2022.

READ: boohoo sees strong growth in UK, US but other countries lag

In fact, during the first quarter the online retailer saw “very impressive growth” in the UK and the US, but year-on-year declines in the rest of Europe and the world.

“Taking a step back from the most recent quarter, we think Boohoo is well placed to take advantage of the 'reopening' as lockdown conditions continue to ease across its markets – though we recognise that the process may not always be linear,” analysts said.

“The company continues to make good progress on its ESG/supply-chain-related promises, which should help rebuild confidence among investors.”

The bank has an ‘overweight’ recommendation on the stock with target price of 530p.

Shares dipped 1% to 325.8p on Wednesday morning.

Quick facts: Boohoo Group PLC


Price: 261 GBX

Market Cap: £3.3 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Catenae Innovation to exhibit Skillflow at the UK Construction Week with...

Catenae Innovation PLC (AIM:CTEA, FRA:NZS0)'s (LON:CTEA) Guy Meyer talks to Proactive London’s Katie Pilbeam about exhibiting at the UK Construction Week with Construction Helpline.  It is the UK's largest construction event, taking place at the National Exhibition Centre, Birmingham, from...

56 minutes ago

2 min read