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Hugo Boss: Invest Securities initiates coverage as a buyer

( - Invest Securities has initiated its coverage of the Hugo Boss share with a "buy" rating and a target price of 30 euros, meaning upside potential of +27%, highlighting a new management team to get back on track again.

The broker considers the stockmarket's dismay regarding the German clothing group to be "exaggerated", with its share having fallen by nearly 50% YTD, against the backdrop of the Covid crisis.

Moreover, the effective arrival of a new CEO in June 2021 - Daniel Grieder, formerly CEO at Tommy Hilfiger (PVH Group), is a catalyst that will ultimately foster a market recovery for a value-inspired case, he adds.

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