Tod's: no sign of a turnaround yet, UBS says
(CercleFinance.com) - Analysts at UBS maintained their "sell" rating on the Tod's share, cutting their corresponding target price from 48 euros to 45 euros, after the Italian luxury shoemaker unveiled its full-year 2017 results yesterday.
In a note sent to clients, the broker said it does not see "sign of a turnaround as yet."
"We see the market as being too optimistic on a mid-term sales rebound," UBS continued in the report.
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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.
In a note sent to clients, the broker said it does not see "sign of a turnaround as yet."
"We see the market as being too optimistic on a mid-term sales rebound," UBS continued in the report.
Copyright (c) 2018 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.