Download full report with analyst certification and important disclosures
Jul 26 2022, 16:40 IST/BST
MADE.com Group (MADE) has a compelling online furniture and homeware proposition, but the offer has been hamstrung by supply chain disruption. Where we are in the economic cycle is clearly not going to be good for business. A June 2021 IPO at 200p, MADE has had a short but troubled track record of disappointing prints which, together with the CEO and CFO departures, has crushed investor confidence. This is a good business, but we initiate with a ‘Neutral’ rating and a 30p price target.