Farfetch (FTCH) Announces Neiman Marcus Win - Jefferies
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Rating Summary:
7 Buy, 13 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Jefferies analyst Ashley Helgans reiterated a Buy rating and $25.00 price target on Farfetch (NYSE: FTCH) after the company announced a strategic partnership with Neiman Marcus where NMG will leverage FPS to re-platform and power ecommerce for Bergdorf Goodman and Neiman Marcus will use select FPS modules.
The analyst stated "The deal exemplifies FTCH's ability to monetize their platform beyond its lux marketplace and diversify topline towards higher margin, recurring rev streams. Current entry-point is compelling with shares -50% YTD and multi-year growth drivers. Lowering FY22 ests for macro headwinds."
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 $16.47 yesterday.
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