Farfetch (NYSE:FTCH) had its price target upped by Credit Suisse Group from $53.00 to $85.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target points to a potential upside of 31.80% from the company’s previous close.
Several other brokerages have also recently weighed in on FTCH. Morgan Stanley upped their price target on Farfetch from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, January 15th. Wells Fargo & Company boosted their target price on Farfetch from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 22nd. Oppenheimer boosted their target price on Farfetch from $32.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, November 13th. BTIG Research boosted their target price on Farfetch from $31.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, November 13th. Finally, The Goldman Sachs Group boosted their target price on Farfetch from $29.60 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Farfetch has a consensus rating of “Buy” and an average target price of $52.14.
FTCH stock traded down $3.49 during midday trading on Tuesday, hitting $64.49. The stock had a trading volume of 408 shares, compared to its average volume of 4,723,482. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of -19.70 and a beta of 3.53. The business has a 50-day moving average of $63.76 and a two-hundred day moving average of $44.62. Farfetch has a 52-week low of $5.99 and a 52-week high of $73.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.07 and a quick ratio of 1.83.
Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.
Further Reading: Cost of Debt
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