Here's Why Farfetch Stock Popped Today
Shares of luxury-apparel retailer Farfetch Limited (NYSE: FTCH) popped on Wednesday after getting called out as a "top pick" by Wall Street. Farfetch stock finished the session up 9.7%.
Wells Fargo analyst Ike Boruchow is calling Farfetch stock a top pick, according to The Fly. And according to TipRanks, Boruchow is giving Farfetch a price target of $25 per share -- an incredible 197% higher than where it closed trading today.
Boruchow is reportedly bullish on Farfetch stock because of its platform solutions. For those unaware, Farfetch generates revenue in a variety of ways, including providing an e-commerce marketplace for small fashion companies and even owning its own physical retail locations. However, it's also started to offer technology to brands to build their own online operations with its platform solutions.
Source Fool.com
