Hugo Boss: Berenberg starts monitoring - says 'buy'
(CercleFinance.com) - On Friday Berenberg began to monitor Hugo Boss shares - with a buy rating and a target price of 57.
The broker believes that the new strategy implemented by the German fashion group, combined with the refreshment of the brand, is bearing fruit by attracting a new type of consumer.
The analyst also praises the new management team's experience, which he believes has an outstanding track record and has been able to install a culture of growth, while at the same time strengthening the market's confidence and credibility in the reality of a turnaround.
Berenberg says that the apparel group is now well managed, with resources well invested, which has resulted in renewed interest in the brand.
Although aware of a potential recession in the near term, the company's strong momentum and its clear potential in the medium term lead analysts to take a positive view on the stock.
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