Fundamentals21 Feb 2022 17:36
Shall we all start to get real here
* RBC upgrades THG to "outperform" from "sector perform" on the back of a robust performance in co's e-commerce platform THG Ingenuity
* "Our analysis of Ingenuity's potential suggests SoftBank's valuation might indeed be reasonable, rather than far-fetched" - RBC
* In early 2021 THG had given Softbank the option to buy 19.9% of THG ingenuity for $1.6 bln which values Ingenuity at $6.3 bln after the unit has been spun-off
* Softbank yet to respond to THG proposal, however RBC suggests the Tokyo-listed firm is unlikely to walk way from the deal
* RBC keeps THG PT unchanged at 500p
* Eight out of 13 analysts rate the stock "buy" or higher,