Hugo Boss: Invest Securities confirms buy rating.
(CercleFinance.com) - The Parisian broker Invest Securities has confirmed its buy rating on the Hugo Boss share the day after the group published interim results which were warmly welcomed on the Frankfurt Stock Exchange, with the stock rising by over 6%.
The broker maintains its target price at 80 euros.
Between the first and second quarters, the sales trend of the German specialist in upmarket ready-to-wear clothing has once again become positive: indeed, Q2 sales reached 636 million euros, or 16 million euros more than expected by the consensus, up 3% at constant exchange rates. At constant stores, group sales increased by 3% in Q2 after falling by the same amount in Q1, with all regions contributing to this movement.
Admittedly, the group's underlying EBITDA margin fell by 40 basis points in Q2 to 16.9%. However, Invest Securities says that pressure on profitability is controlled, in so far as it stems from the 5% increase in marketing expenses and amortisation related to IT investments last year. Finally, note that Hugo Boss has confirmed its FY forecasts.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker maintains its target price at 80 euros.
Between the first and second quarters, the sales trend of the German specialist in upmarket ready-to-wear clothing has once again become positive: indeed, Q2 sales reached 636 million euros, or 16 million euros more than expected by the consensus, up 3% at constant exchange rates. At constant stores, group sales increased by 3% in Q2 after falling by the same amount in Q1, with all regions contributing to this movement.
Admittedly, the group's underlying EBITDA margin fell by 40 basis points in Q2 to 16.9%. However, Invest Securities says that pressure on profitability is controlled, in so far as it stems from the 5% increase in marketing expenses and amortisation related to IT investments last year. Finally, note that Hugo Boss has confirmed its FY forecasts.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.