Wednesday, January 23, 2019

Boo-hoo, it‘s assessment day for Boohoo PLC


Online fashion retailer Boohoo has had its target price upped by broker and corporate advisor, N+1. The company raised the target price from GBX 35 ($0.55) to GBX 40 ($0.63), and gave a ‘buy‘ rating on the stock.

Shares of PLC were opened at 29.96 on Wednesday. The stock‘s market capitalisation is GBX 335.32 million. PLC has a one year low of GBX 21.00 and a one year high of GBX 55.75. The company‘s 50 day moving average is GBX 28.55 and its 200-day moving average is GBX 27.19.

Other analysts have also released reports on the Boohoo PLC this year. Three equity research analysts have rated the stock with a ‘hold‘ rating, and seven have assigned a ‘buy‘ rating to the company. Citigroup Inc., Investec, Canaccord Genuity, Barclays and Beaufort Securities issued ratings on Boohoo in May and June. With the latest rating from N + 1, BooHoo.Com PLC has a consensus rating of ‘buy‘ and an average price target of GBX 44.22 ($0.69).

Boohoo is an online own brand fashion retailer, aimed primarily at the 16-24 year old female demographic. The company designs, sources, markets and sells its own brand clothing, shoes and accessories in the United Kingdom and globally. Ranges include the Main Range, Style Steals, Boutique and BoohooMAN.

The company is an ultimate holding company of Wasabi Frog Limited (Wasabi Frog), which trades as Wasabi Frog Ltd and its subsidiaries, collectively called the Operating Group, is an internet clothing retailer.