Hugo Boss: UBS welcomes 'strong finish to 2018'
(CercleFinance.com) - UBS has confirmed its buy rating on the share of the German upmarket ready-to-wear company Hugo Boss, due to a “strong finish to 2018”.
The broker maintains its 12-month target price at 84 euros, which suggests upside potential of around 35%.
Analysts hail the group's Q4 sales, which, at 783 million euros, exceeded their expectations (770 million euros) by around 2%. "Retail LFL accelerated q/q to 4% in Q4," as expected by analysts.
Indeed, the group's comparison basis has become more favourable in Europe, while the strong online sales growth continued (+37%). In addition, growth in wholesale sales was well above expectations: +15% excluding FX factors, while broker was only expecting 6%. From these sustained growth figures, UBS has deduced that inventory levels fell at the end of the year.
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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 broker maintains its 12-month target price at 84 euros, which suggests upside potential of around 35%.
Analysts hail the group's Q4 sales, which, at 783 million euros, exceeded their expectations (770 million euros) by around 2%. "Retail LFL accelerated q/q to 4% in Q4," as expected by analysts.
Indeed, the group's comparison basis has become more favourable in Europe, while the strong online sales growth continued (+37%). In addition, growth in wholesale sales was well above expectations: +15% excluding FX factors, while broker was only expecting 6%. From these sustained growth figures, UBS has deduced that inventory levels fell at the end of the year.
Copyright (c) 2019 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.