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Hugo Boss: Aurel BGC still a seller, but ups target price.

(CercleFinance.com) - Aurel BGC maintains its "sell" rating on the Hugo Boss stock and has raised its target price from 55 euros to 60 euros, after updating its valuation model for the German upmarket clothing group.

This includes new estimates for 2017-19, which on average have been raised by 3%, as well as normative growth and EBITDA margin assumptions which are slightly less conservative given the recent improvement in market conditions.

According to the broker, the stock's current valuation already largely prices in the success of its new action plan. However, it still believes that the group has many challenges ahead, in addition to the risks of implementing the group's new strategy in the next few months.

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