Panmure Gordon reiterated its buy advice on home shopping group N Brown following an investor evening last week.
The broker has a 320p price target and came away excited about the company’s prospects.
Panmure analyst Jean Roche said: “We noted an abundance of growth opportunities for N Brown, particularly in the US part of the international business, the ecommerce experience of Figleaves and the multichannel opportunity offered by High & Mighty.”
The retailer soft-launched its SimplyBe website in the US
the week before last and will be mailing out 1 million catalogues there next month.
SimplyBe was launched last year in Germany and now has 35,000 customers there.
Roche said: “We note the relative simplicity of the N Brown expansion into the US compared with effort and capital intensity involved for a bricks-and-mortar retailer, again highlighting the simplicity of the home shopping model.”