Sharecast News
23 Jun, 2022 09:05 23 Jun, 2022 09:05

Citi resumes coverage of THG at 'buy', says beauty division underestimated

Citi resumed coverage of ecommerce group THG on Thursday with a ‘buy’ rating and 220p price target.

The bank said that amid M&A news flow, commodities and forex-driven downgrades, corporate governance debates and questions over THG Ingenuity, the market seems to be underestimating the value of the beauty division.

It said Beauty "is a very strong player in a very attractive market and, alone, could make up for the total valuation of the company".

At 0900 BST, the shares were up 3.7% at 77.24 p.


News Source: © 2022 Web Financial Group (UK) Limited. All rights reserved and terms of use apply.

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.

 

Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.