BTIG downgraded Farfetch (FTCH) to Neutral from Buy with a $5.50 price target. Given recent events, shares have become almost unanalyzable, and the unexpected possibility the joint venture with Richemont (CFRSF) may not close introduces “significant” downside risk, the analyst tells investors in a research note. The firm believes moving to the sidelines until the dust settles is the “best course of action.”
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