Oppenheimer lowered the firm’s price target on Farfetch to $5.50 from $8 and keeps an Outperform rating on the shares after the company reported Q2 results. Despite seven quarters of share losses compared to luxury retail peers, management guided for H2 share gains on brand launches and continued strength outside the U.S. and China. The firm added that it is still maintaining an Outperform rating on valuation.
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