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SuperGroup upgraded by Liberum

05 July 2016 15:01

Liberum Capital has upgraded its investment rating on fashion retailer SuperGroup (LON:SGP) to buy from hold, stating that it believes the shares have been oversold given they are now trading around 20 per cent below their pre-Brexit peak.

The broker added: "In light of much deeper cuts to earnings forecasts across the sector a 14% cut to 2018 EPS for SuperGroup looks a good result. The company retains strong growth prospects which we believe offer flexibility to manage margins."

Its target price for the stock has been left unchanged at 1,500 pence per share.

At 3:01pm: (LON:SGP) SuperGroup PLC share price was +22.5p at 1251.5p

Story provided by StockMarketWire.com

Related Company: SGP

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