Birkenstock: Jefferies is Buy on the stock

(CercleFinance.com) - Jefferies is Buy on the stock, with a price target of $52.


' Birkenstock's first reported quarter after the IPO was marked by sales of around 375 million euros (+16% year-on-year) and EBITDA of around 96ME (~26% margin) ' stresses the analyst firm.

' We consider the performance to be encouraging, in particular the solid sales recorded in the Americas (+30% year-on-year). EBITDA prospects could be considered mixed; however, we think management is probably being cautious ' says Jefferies.

We recommend that investors buy shares in view of the current weakness.

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