Boohoo Group downgraded by US investment bank amid 'persistent' trading challenges
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Jefferies has downgraded Boohoo Group PLC to 'hold' from 'buy' and reduced its price target due to ongoing sales and profitability challenges. The company's outlook remains bleak despite operational streamlining efforts.
November 27, 2024 | 12:45 pm
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Jefferies downgraded Boohoo Group to 'hold' from 'buy', cutting the price target from 70p to 30p due to ongoing sales and profitability issues.
The downgrade by Jefferies and the significant reduction in the price target indicate a negative outlook for Boohoo Group. Persistent challenges in sales and profitability are likely to impact investor sentiment negatively, leading to potential short-term price declines.
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IMPORTANCE 80
RELEVANCE 100