Salvatore Ferragamo: Barclays still a seller
(CercleFinance.com) - Barclays has confirmed its 'Underweight' recommendation on Salvatore Ferragamo shares, with a E5.
6 SP, pending the luxury clothing, footwear and accessories house's 2024 results, scheduled for 30 January.
The broker says it does not expect any deterioration in the trend for the Italian group, forecasting a -6.6% decline in sales excluding currency effects in Q4 2024, after -7.4% in Q3.
Overall, Barclays expects FY 2024 sales of E1.029bn, as well as recurring EBIT (operating profit) of E30m and reported EBIT of -E52m after depreciation.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
6 SP, pending the luxury clothing, footwear and accessories house's 2024 results, scheduled for 30 January.
The broker says it does not expect any deterioration in the trend for the Italian group, forecasting a -6.6% decline in sales excluding currency effects in Q4 2024, after -7.4% in Q3.
Overall, Barclays expects FY 2024 sales of E1.029bn, as well as recurring EBIT (operating profit) of E30m and reported EBIT of -E52m after depreciation.
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.