Credit Suisse analyst Stephen Ju lowered his price target for Farfetch to $17 from $22 following the company's Q3 results. In a research note to investors, Ju says that it may be a few quarters before Farfetch shares find sponsorship with more investors as this is the first quarter following several material changes to the business, namely the pullback in promotional activity as well as the onboarding of New Guards Group. Ju adds that even as he contemplates a rapid deceleration to below 30% GMV growth levels on a go-forward basis and continue to assume an intensely promotional environment, he arrives at a price target conclusion suggesting ~$17 per share, which suggests that Farfetch shares remain oversold. He maintains an Outperform rating on the shares.