Tod's: Credit Suisse upgrades its rating.

(CercleFinance.com) - Credit Suisse has upgraded its rating on Tod's from “underperform” to “outperform,” raising its target price from 45 euros to 72 euros, now preferring this upmarket Italian footwear manufacturer over its peer Ferragamo.


Indeed, their analysts underline that Ferragamo has outperformed Tod's by more than 60% over the last three years, and that the two shares are now trading at similar multiples "despite being at different stages in the margin and earnings cycle".

It expects Tod's to return to positive sales growth in 2017 (+2% expected like-for-like), with the group set to benefit from an "exceptionally favourable" comparison basis from the first quarter.

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