Farfetch stock price target cut to $20 from $27 at KeyBanc Capital

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Farfetch stock jumps 15% after narrower quarterly loss

Shares of Farfetch Ltd. jumped 15% in the extended session Thursday after the luxury online retailer reported a narrower third-quarter loss and said it expects a “strong” fourth quarter. Farfetch reported a loss of $85.5 million, or 28 cents a share, in the quarter, compared with a loss of $77.2 million, or 30 cents a share, in the year-ago quarter. Revenue rose to $255.5 million from $134.5 million a year ago. Analysts polled by FactSet had expected an adjusted loss of 29 cents a share on sales of $255.4 million. For the fourth quarter, Farfetch said it expects a loss between $21 million and $31 million. “We had a fantastic Q3, beating all our expectations, and continuing to capture market share at a rapid pace,” Chief Executive Jose Neves said in a statement. Farfetch stock ended the regular trading day down 7%.

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