Boohoo: shares shine after broker initiates with 'buy'
(CercleFinance.com) - Shares of Boohoo are up over 1% in London on Friday after Deutsche Bank initiated its coverage of the online clothing retailer with a "buy" rating.
The stock rose to 235.2 pence in morning trading, compared to a 0.2% loss in the FTSE 100 index.
In a research note dedicated to European clothing retail, the investment bank welcomes Boohoo's "extraordinarily strong growth" over the last two years.
"Boohoo's strong proposition of fashion, price and digital engagement are a winning combination," Deutsche Bank writes in the report.
"Our survey confirms a young customer base, a strong social media following, as well as perceived competitive advantages from fashion, newness and prices," it adds.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The stock rose to 235.2 pence in morning trading, compared to a 0.2% loss in the FTSE 100 index.
In a research note dedicated to European clothing retail, the investment bank welcomes Boohoo's "extraordinarily strong growth" over the last two years.
"Boohoo's strong proposition of fashion, price and digital engagement are a winning combination," Deutsche Bank writes in the report.
"Our survey confirms a young customer base, a strong social media following, as well as perceived competitive advantages from fashion, newness and prices," it adds.
Copyright (c) 2017 CercleFinance.com. All rights reserved.