Hugo Boss: UBS still on hold
(CercleFinance.com) - UBS confirms its neutral recommendation on the stock, with an unchanged target price of E41, after its Q3 figures.
Q3 sales reached E1,029m, 1% above forecasts and UBS estimates, with organic sales growth (OSG) of +1% versus stable forecasts (UBSe +1%), UBS says.
Its Q3 gross margin was 60.2% (vs. 61.3% and UBSe 61.5%). Q3 EBIT came to E95m (vs. E91m, UBSe E93m), with an EBIT margin of 9.3% (vs. 8%), it adds.
We continue to see more downside risks in a context of low visibility, although this is largely reflected in the stock's valuation, the analyst says.
Copyright (c) 2024 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.
Q3 sales reached E1,029m, 1% above forecasts and UBS estimates, with organic sales growth (OSG) of +1% versus stable forecasts (UBSe +1%), UBS says.
Its Q3 gross margin was 60.2% (vs. 61.3% and UBSe 61.5%). Q3 EBIT came to E95m (vs. E91m, UBSe E93m), with an EBIT margin of 9.3% (vs. 8%), it adds.
We continue to see more downside risks in a context of low visibility, although this is largely reflected in the stock's valuation, the analyst says.
Copyright (c) 2024 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.