As THG returns to the FTSE 250 today (24 September 24), the online retailer has received further support with JP Morgan upgrading its outlook on the back of positive half-year results.

The financial services giant has raised THG’s stock from Underweight to Neutral, sparking a 4.5% increase in the retailer’s share price on Tuesday.

A Neutral reading predicts the stock will perform in line with the market while Underweight means it expects the stock to perform worse than the overall market.

The raise comes after a surge in THG’s valuation in recent weeks, giving the firm a market capitalisation of £532 million on the back of positive half-year results.

However, the current share price and market-cap remain well down from THG’s IPO valuation of £5.4 billion in 2020.

In an analyst note, J

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