BUZZ-UK's JD Sports bottoms FTSE 100 after Barclays' rating downgrade

Reuters04-29

** Shares of JD Sports Fashion Plc fall 2.3% to 117.40p, stock top pct loser on FTSE 100 index

** Barclays analysts cut rating on fashion retailer to 'equal weight' from 'overweight'; reduce target price to 140p from 165p

** On co's proposal last week to buy American athletic fashion retailer Hibbett for about $1.08 bln, Barclays analysts say rebuilding a track record would have been preferable before spending on another acquisition

** Including session's losses, stock down ~29% YTD

(Reporting by Aby Jose Koilparambil in Bengaluru)

((abyjose.koilparambil@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment