Hugo Boss: Deutsche Bank downgrades stock
(CercleFinance.com) - On Tuesday Deutsche Bank downgraded its rating on Hugo Boss shares stock from "buy" to "hold", reducing its target price from 62 euros to 56 euros.
In its morning comments, the German bank believes that the winds that have supported the ready-to-wear clothing group's business in recent years are now set to decline.
According to Deutsche, the advantages that the company has displayed so far - namely its strong exposure to Europe and its smaller presence in China, its industrial presence in Europe and Turkey and the implementation of strategic measures, such as the refreshment of the "Hugo" and "Boss" ranges - could well prove to be disadvantageous.
Consumption in Europe is now affected by soaring inflation, while global supply chains are tending to normalise and the marketing-led sales momentum, after initial positive effects, is likely to fade, DB said.
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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.
In its morning comments, the German bank believes that the winds that have supported the ready-to-wear clothing group's business in recent years are now set to decline.
According to Deutsche, the advantages that the company has displayed so far - namely its strong exposure to Europe and its smaller presence in China, its industrial presence in Europe and Turkey and the implementation of strategic measures, such as the refreshment of the "Hugo" and "Boss" ranges - could well prove to be disadvantageous.
Consumption in Europe is now affected by soaring inflation, while global supply chains are tending to normalise and the marketing-led sales momentum, after initial positive effects, is likely to fade, DB said.
Copyright (c) 2022 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.