Hugo Boss: Jefferies initiates coverage with 'buy' rating
(CercleFinance.com) - Jefferies on Thursday started the coverage of the Hugo Boss shares with a "buy" rating and a target price of 53 euros, meaning upside potential of 38%.
"We believe that Hugo Boss can hone its simplified two brand strategy and achieve outperformance in both digital and Asia Pacific, returning to mid-single digit growth following four years of underperformance," the US broker wrote in a note.
According to Jeffeires, the confidence crisis caused by the October profit warning offers an attractive entry point.
Jefferies pointed out that its the German fashion house's valuation multiple is 22% below its 5-year historical average.
The Hugo Boss shares are currently up 1.4% at 39.9 euros on the XETRA market.
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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.
"We believe that Hugo Boss can hone its simplified two brand strategy and achieve outperformance in both digital and Asia Pacific, returning to mid-single digit growth following four years of underperformance," the US broker wrote in a note.
According to Jeffeires, the confidence crisis caused by the October profit warning offers an attractive entry point.
Jefferies pointed out that its the German fashion house's valuation multiple is 22% below its 5-year historical average.
The Hugo Boss shares are currently up 1.4% at 39.9 euros on the XETRA market.
Copyright (c) 2019 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.