Hugo Boss: Crédit Suisse still on hold
(CercleFinance.com) - Credit Suisse confirms its neutral rating on the share, along with its target price of 25 euros (current price: almost 24 euros).
Following its quarterly results, the analyst now expects organic revenues to fall by 26% on 2020, with an adjusted operating loss of 66 million euros.
"Our FY21-22e organic sales assumptions are unchanged but our operating profit estimates decrease by 4% driven by our more cautious view on near-term margin recovery and a stronger euro," Crédit Suisse said.
"Our FY21-22e organic sales forecasts are 11% and 8% below FY19. 35-40% retail sales decline in June with 80% stores opened indicates a modest demand recovery post lockdowns".
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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.
Following its quarterly results, the analyst now expects organic revenues to fall by 26% on 2020, with an adjusted operating loss of 66 million euros.
"Our FY21-22e organic sales assumptions are unchanged but our operating profit estimates decrease by 4% driven by our more cautious view on near-term margin recovery and a stronger euro," Crédit Suisse said.
"Our FY21-22e organic sales forecasts are 11% and 8% below FY19. 35-40% retail sales decline in June with 80% stores opened indicates a modest demand recovery post lockdowns".
Copyright (c) 2020 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.