Hugo Boss: Stifel still a buyer

(CercleFinance.com) - Stifel maintains its Buy rating on Hugo Boss shares, with an unchanged target price of E79.


Hugo Boss has published preliminary figures for fiscal 2023. Q4 sales were up 13% cc, in line with consensus, but quarterly EBIT came in at E121m, slightly below the consensus (E129m).

Stifel considers Hugo Boss to be a very good example of a brand decoupled from mixed trends in the apparel market thanks to a successful rejuvenation of the brand and improved marketing.

While the external environment is increasingly difficult, the analyst also highlights the brand's as yet untapped potential in America/Asia, with 'attractive' margin expansion potential.


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