Analyst Andrew Wade from Jefferies maintained a Buy rating on THG and keeping the price target at p55.00.
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Andrew Wade has given his Buy rating due to a combination of factors that highlight THG’s strategic initiatives and market positioning. The recent collaboration with Mars to launch Snickers flavored protein powders and bars is a significant move, showcasing THG’s ability to partner with well-known brands and expand its product offerings. This partnership is expected to enhance Myprotein’s visibility and attract more online shoppers, potentially boosting sales and market presence.
Furthermore, this collaboration is part of a broader strategy where THG has previously partnered with other notable brands like Muller, Iceland, and Vimto. Such alliances demonstrate THG’s commitment to leveraging its market leadership and expertise to differentiate its offerings and expand its reach. These strategic partnerships are likely to support THG’s growth in both online and offline retail channels, making the stock an attractive buy for investors.