Wells Fargo Reaffirms Their Sell Rating on Farfetch (FTCH)

In a report released yesterday, Ike Boruchow from Wells Fargo maintained a Sell rating on Farfetch (FTCH). The company’s shares closed last Thursday at $26.35, close to its 52-week high of $28.25.

According to TipRanks.com, Boruchow is a 1-star analyst with an average return of -0.8% and a 47.2% success rate. Boruchow covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings, Lululemon Athletica, and TJX Companies.

Currently, the analyst consensus on Farfetch is a Strong Buy with an average price target of $26.19.

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The company has a one-year high of $28.25 and a one-year low of $5.99. Currently, Farfetch has an average volume of 4.41M.

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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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