Piper Sandler analyst Edward Yruma lowered the firm’s price target on Farfetch to $5 from $6 and keeps a Neutral rating on the shares post the Q2 report. The company continues to see intensifying headwinds in luxury and continues to reduce expenses, the analyst tells investors in a research note. The firm says Farfetch likely needs both an acceleration in revenue growth and expense reductions to achieve “reasonable” long-term profitability.
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