Farfetch (FTCH) January Checks Look Good, BTIG Reiterates Buy

BTIG analyst Marvin Fong reiterated a Buy rating and $65.00 price target on Farfetch (NYSE: FTCH) after January checks show m/m acceleration with well managed promotions

The analyst stated "Our channel checks indicate Farfetch had a strong January with our clickstream data accelerating after two months of deceleration. Year over year growth was consistent with levels we saw in the summer, albeit against easier compares. We believe intensifying COVID-19 conditions played a role in supporting Jan growth across the e-commerce space. Google (GOOGL, Not Rated) data shows Jan in person retail shopping activity fell back to the worst levels since May in the world's
major economies. Additional stimulus domestically was also supportive."

For an analyst ratings summary and ratings history on Farfetch click here. For more ratings news on Farfetch click here.

Shares of Farfetch closed at $62.50 yesterday.

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