THG (LON: THG) shares edged higher Thursday, closing the session up 0.58% after it was reinstated with an Equal Weight rating and 87p per share price target at Barclays.

The reinstatement comes following what Barclays analyst Andrew Ross described as an “encouraging” trading statement.

He noted that operational momentum is getting better while further steps towards cleaner governance have been evident. Ross stated that he sees “a potentially attractive upside case if better delivery on forecasts continues.”

On Wednesday, Jefferies raised its price target on the company, formerly The Hut Group, to 95p from 85p, keeping a Buy rating on the shares. The investment bank said THG reported a “strong” Q2 and added that cash generation has been “ahead of expectations.”

By Sam Boughedda