Farfetch (FTCH) Receives a Buy from Merrill Lynch


Merrill Lynch analyst Ashley Wallace reiterated a Buy rating on Farfetch (FTCH) today and set a price target of $75.00. The company’s shares closed last Tuesday at $51.93.

Wallace has an average return of 49.3% when recommending Farfetch.

According to TipRanks.com, Wallace is ranked #2413 out of 7413 analysts.

Farfetch has an analyst consensus of Strong Buy, with a price target consensus of $73.50.

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Based on Farfetch’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $540 million and GAAP net loss of $2.28 billion. In comparison, last year the company earned revenue of $382 million and had a GAAP net loss of $117 million.

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Farfetch Ltd. engages in the provision of technology platform for the luxury fashion industry. It operates through the following segments: Farfetch Marketplace, Farfetch Black and White, Farfetch Store of the Future, and Browns stores. The Farfetch Marketplace runs Farfetch.com website and app. The Farfetch Black and White Solutions relates to white label website solution for luxury brands. The Farfetch Store of the Future delivers technology solutions to retail outlets. The Browns stores involves in management of luxury boutiques. Its products include womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and is headquartered in London, the United Kingdom.

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