Ontex: 'underestimated by the market' according to UBS
(CercleFinance.com) - In its note of the day, the analyst indicates that margin forecasts for 2024 should be reduced to the upper end of the range.
It confirms its Buy recommendation on the stock, with a target of E10.7, representing a potential upside of 30%.
'We continue to believe that Ontex's improved operating performance is being underestimated by the market', says UBS.
'We continue to view Ontex as an attractive turnaround story', says the broker in the summary of its note, following the publication of first-quarter 2024 results marked by a further sequential improvement.
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