UBS analyst Kunal Madhukar lowered the firm’s price target on Farfetch (FTCH) to 80c from $3.30 and keeps a Neutral rating on the shares. The firm remains on the sidelines amid the current uncertainty and the possibility that the proposed Richemont (CFRSF) deal may not happen given Richemont’s announcement that it is evaluating all options, the analyst tells investors in a research note.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FTCH:
- Farfetch discloses Alibaba President Evans resigns from board
- Point72 Asset Management reports 5.1% passive stake in Farfetch
- Richemont upgraded to Outperform from Market Perform at Bernstein
- Snap upgraded, Okta downgraded: Wall Street’s top analyst calls
- Farfetch upgraded to Neutral from Sell at Citi