Farfetch initiated with a Market Perform at JMP Securities

JMP Securities analyst Nicholas Jones initiated coverage of Farfetch with a Market Perform rating and no price target. Farfetch is a dominant platform within personal luxury retail, but "challenged upper funnel trends" and relatively low consumer savings rates may hinder the company’s growth near-term, the analyst tells investors in a research note. Additionally, as China drives the majority of the growth within the industry, the firm looks for more evidence that Farfetch is successfully growing its business in the country.