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Jan 24 2022, 16:35 GMT
Purplebricks Group (PURP) has had quite some ride as a public company. There have been some highs but mainly lows, particularly recently, with the business seemingly not surviving the departure of the founder entrepreneurs, failing to execute the international expansion and subsequently failing to execute in the UK and still apparently losing market share. The strategic leadership of the business has been cruelly exposed. We initiate with a ‘Neutral’ recommendation and price target of 22p.