Boohoo Group (BOO)

Sector:

Retailers

Index:

FTSE AIM 100

36.25p
   
  • Change Today:
      0.25p
  • 52 Week High: 59.50
  • 52 Week Low: 29.32
  • Currency: UK Pounds
  • Shares Issued: 1,268.68m
  • Volume: 1,528,283
  • Market Cap: £459.89m
  • RiskGrade: 206

Berenberg downgrades Boohoo to 'hold', slashes target price

By Iain Gilbert

Date: Tuesday 29 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg downgraded fast fashion retailer Boohoo from 'buy' to 'hold' on Tuesday and slashed its target price on the stock from 140.0p to 45.0p, stating the group was now "fighting on all fronts".
Berenberg said as with many other companies in the e-commerce space, Boohoo's shares have had a "particularly difficult" 2022. While the analysts still believe the group has "invested significantly" in improving its economic, social and governance credentials following reports of failings in its Leicester supply chain back in July 2020, more recent reports regarding working conditions at its Burnley distribution centre will likely make "a sustained revival" in investor sentiment "increasingly difficult".

"Clearly, the most important consideration is the well-being of those affected by the conditions reported in the Times article. Nevertheless, we also believe the investigation represents a setback to any sustained improvement in investor sentiment looking ahead," said Berenberg.

The German bank added that the 2023 trading year was also set to be "a challenging year" from a margin perspective, with the group expecting an adjusted underlying earnings margin of 3-5%, driven by cost inflation and operating de-leverage.

"Considering this alongside our expectations for continued subdued financial performance in the near term, we downgrade our price target to 45.0p and our recommendation to 'hold'," said Berenberg.















Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Boohoo Group Market Data

Currency UK Pounds
Share Price 36.25p
Change Today 0.25p
% Change 0.69 %
52 Week High 59.50
52 Week Low 29.32
Volume 1,528,283
Shares Issued 1,268.68m
Market Cap £459.89m
RiskGrade 206

Boohoo Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.01% below the market average35.01% below the market average35.01% below the market average35.01% below the market average35.01% below the market average
5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average
Price Trend
30.29% below the market average30.29% below the market average30.29% below the market average30.29% below the market average30.29% below the market average
21.95% below the sector average21.95% below the sector average21.95% below the sector average21.95% below the sector average21.95% below the sector average
Income Not Available
Growth
84.26% below the market average84.26% below the market average84.26% below the market average84.26% below the market average84.26% below the market average
55% below the sector average55% below the sector average55% below the sector average55% below the sector average55% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 5
Sell 7
Strong Sell 1
Total 17
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Boohoo Group Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
12:12 10,000 @ 36.05p
12:08 91 @ 35.95p
12:05 7,739 @ 36.25p
12:05 47,207 @ 36.10p
12:05 7,413 @ 36.10p

Boohoo Group Key Personnel

CFO Stephen Morana
CEO John Lyttle

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