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Hugo Boss: Commerzbank cuts target price after results

(CercleFinance.com) - Commerzbank maintains its "buy" rating on Hugo Boss shares, although has it cut its target price from 88 euros to 84 euros, after the German fashion house unveiled a profit outlook for 2018 that was below expectations on higher investment.

The 2018 EBITDA target is some 3% below consensus due to digital investment and currency headwinds, the brokerage firm wrote in a report.

"However, major key performance indicators (KPIs) such like-for-like growth and wholesale growth are moving in the right direction," Commerzbank says.

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