Tod's: shares slide on broker downgrade
(CercleFinance.com) - Shares in Italian luxury shoemaker Tod's have fallen by up to 4% on Thursday on the back of a downgrade by German brokerage Berenberg.
The broker, which in its report has downgraded its "hold" rating on the share to "sell," while cutting its target price from 51 euros to 36 euros, seems to have triggered the sell-off.
Shares in Tod's, which have fallen by over 30% over the past year, were down 3.9% at 42.2 euros by 12:15 today, having earlier bottomed out at 41 euros.
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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.
The broker, which in its report has downgraded its "hold" rating on the share to "sell," while cutting its target price from 51 euros to 36 euros, seems to have triggered the sell-off.
Shares in Tod's, which have fallen by over 30% over the past year, were down 3.9% at 42.2 euros by 12:15 today, having earlier bottomed out at 41 euros.
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.