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Salvatore Ferragamo: UBS cuts target price

( - UBS maintains its sell rating on the Salvatore Ferragamo stock, reducing its target price for them to E13.
5 (from E14.5), with the analyst believing that the stock has not yet bottomed out.

"We continue to see persistent headwinds to SFER's turnaround with an uncertain outlook in the midst of macro volatilities and increased competition", UBS says.

Analysts remain cautious on the case, given the brand's weak momentum and the scale of investments required, which are not yet fully reflected in the consensus, it explains, for which 2023 will be a crucial year of transition.

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