Tod's: Mainfirst remains on 'sell', lowers target
(CercleFinance.com) - Confirming its cautious view on the share, Mainfirst confirms its 'sell' recommendation on Tod's with a target price reduced to 20 euros, in advance of the Italian brand's publication of its 3rd-quarter results on 11 November after stock-market closing.
“We expect a tricky next quarter, with more than two thirds of western markets under pressure from a lack of demand from tourists and weak local consumption, counterbalancing the growth in the Greater China region”, it says.
The broker reduces its estimates prior to the publication of quarterly results, and at this stage, its revenue forecast for 2020 is lower by approximately 4% than consensus compiled by the luxury shoe manufacturer.
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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 expect a tricky next quarter, with more than two thirds of western markets under pressure from a lack of demand from tourists and weak local consumption, counterbalancing the growth in the Greater China region”, it says.
The broker reduces its estimates prior to the publication of quarterly results, and at this stage, its revenue forecast for 2020 is lower by approximately 4% than consensus compiled by the luxury shoe manufacturer.
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.