Tod's: UBS still neutral, maintaining target price
(CercleFinance.com) - Following Tod's Q1 2023 results, UBS maintains its neutral rating on the stock with an unchanged target price of E39.
"Q1 sales of EUR271m were +10% above cons (+9% vs. UBSe), with c.FX growth +23% y/y (cons +12%, UBSe +14%)," UBS says.
"Both channels beat with retail at +24% (cons +13%, UBSe +14%) and wholesale at +21% (cons +9%, UBSe +14%)," the broker adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Q1 sales of EUR271m were +10% above cons (+9% vs. UBSe), with c.FX growth +23% y/y (cons +12%, UBSe +14%)," UBS says.
"Both channels beat with retail at +24% (cons +13%, UBSe +14%) and wholesale at +21% (cons +9%, UBSe +14%)," the broker adds.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.