Broker’s warning causes Purplebricks’ share price to drop further
Purplebricks' share price dived again on Friday after a broker reduced its target price for the stock by 80%.
Analysts from Berenberg said the online estate agent had "flown too close to the sun".
Purplebricks' shares ended the day down 7% at 128p, continuing a sharp downward trend for the stock.
Its shares were trading above 400p last May but has since dropped 70% - wiping around £850m off its market value.
Berenberg's analysts have given the stock a sell rating and a new target price of 80p.
It said: "In our view, th... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
