Davy upgrades Made.com to 'outperform', shares rally

Shares of Made.com rallied on Tuesday after Davy upgraded its stance on the furniture retailer to ‘outperform’, citing sale potential.

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.