Citi resumes coverage of THG at 'buy', says beauty division underestimated
THG
45.32p
12:40 24/12/24
0.31%
0.14p
Citi resumed coverage of ecommerce group THG on Thursday with a ‘buy’ rating and 220p price target.
Personal Goods
15,664.80
12:54 24/12/24
0.02%
3.12
The bank said that amid M&A news flow, commodities and forex-driven downgrades, corporate governance debates and questions over THG Ingenuity, the market seems to be underestimating the value of the beauty division.
It said Beauty "is a very strong player in a very attractive market and, alone, could make up for the total valuation of the company".
At 0900 BST, the shares were up 3.7% at 77.24 p.