Jefferies analyst Andrew Wade maintained a Buy rating on Frasers Group (FRAS – Research Report) today and set a price target of p1,200.00.
Andrew Wade has given his Buy rating due to a combination of factors that highlight Frasers Group’s resilience and growth potential. The company has demonstrated a strong recovery in its UK sports segment following a challenging trading period during the UK Budget. Despite the difficulties faced in the luxury market, the sports segment has shown robust performance, particularly during the December and Christmas periods.
Moreover, Frasers Group’s international expansion efforts have been progressing significantly, albeit somewhat under the radar. The company has been actively expanding its footprint in various regions, including Southeast Asia, the Middle East, and Africa, through strategic partnerships and acquisitions. These international ventures, such as the partnership with MAP Active and the investment in Accent, underscore the company’s commitment to growth and diversification, reinforcing the Buy rating.