Dr. Martens Stock Gains as Peel Hunt Upgrades to ‘Buy’ on Growth Prospects

Dr. Martens (DOCS.L) experienced a surge in its stock price on Monday following an upgrade by Peel Hunt, signaling renewed confidence in the iconic British footwear brand's future prospects.

The upgrade highlights the belief that the company's growth potential is not fully reflected in the current share price.

Following Peel Hunt's note on August 18, 2025, Dr. Martens shares jumped 8.5%. The brokerage firm elevated its rating from ‘Add' to ‘Buy,' simultaneously increasing the price target from 80p to 112p.

The revision reflects Peel Hunt's assessment that 2025 will represent the nadir for Dr. Martens, with subsequent years poised for recovery and growth. Year-to-date, the stock is up 10.2%.

“The debate is not whether [Dr Martens] can recover, but rather how long it will take,” stated analysts at Peel Hunt. “The process has already started.”

The analysts also believe that Dr Martens remains “one of the few globally relevant heritage brands that continues to resonate strongly with consumers,” while they also note that the “sales momentum is now starting to turn, driven by management’s consumer-led and product-focused strategy.”

Overall, Peel Hunt believes the investment case for DOCS “is looking increasingly positive.”

The positive momentum surrounding Dr. Martens extends beyond this single upgrade. On July 25, 2025, the company's stock reached a new 52-week high, closing at 83.80p, a testament to growing market confidence.

Peel Hunt's analysis suggests that the markets are underestimating Dr. Martens' ability to capitalize on its brand heritage and adapt to evolving consumer preferences.

The revised price target of 112p indicates a belief that the stock has considerable room to appreciate as the company executes its strategic initiatives.