Hugo Boss: Stifel stays on 'buy', reduces target
(CercleFinance.com) - Stifel confirms its 'buy' recommendation on Hugo Boss, but with a target price adjusted down from 69 to 66 euros, in order to reflect a recent de-rating across all the peers of the German high-end clothing brand.
Nevertheless, the broker has slightly raised its sales and EBIT prospects for 2022, by 2% and 1% respectively, to incorporate higher assumptions for the third quarter and favourable exchange rates.
“Our FY23-24E EBIT (operating profit) forecasts went up despite trimming our 2023E organic growth forecast” adds Stifel in the summary of its research note.
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