Davy upgrades Made.com to 'outperform', shares rally
Made.com Group
0.52p
16:39 01/11/22
0.00%
0.00p
Shares of Made.com rallied on Tuesday after Davy upgraded its stance on the furniture retailer to ‘outperform’, citing sale potential.
FTSE All-Share
4,274.24
14:45 19/04/24
n/a
n/a
FTSE Small Cap
6,330.05
14:45 19/04/24
n/a
n/a
Household Goods & Home Construction
12,253.31
14:44 19/04/24
-1.37%
-170.04
Davy lifted its recommendation on the shares from ‘neutral’, arguing that the company is a target for a trade sale.
Davy said a capital raise seems less likely than a sale, which is an outcome pre-IPO shareholders will likely make a push toward.
Davy maintained its 30p price target on the shares, which by 1255 BST, were trading up 11.5% at 8.81p.