Ferragamo: Jefferies upgrades stock
(CercleFinance.com) - While maintaining its target price at 19 euros, Jefferies has upgraded its “underperform” rating on the Salvatore Ferragamo stock to “hold”, after the share's recent sharp correction following an ill-timed secondary placement.
The broker believes that as the M+A angle starts to wane as expected, focus is on strategy even more than ST financials.
"Salvatore Ferragamo is playing catch-up at a time when the sector has reached new highs and whilst the challenges remain significant we see little downside,” the broker says.
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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 believes that as the M+A angle starts to wane as expected, focus is on strategy even more than ST financials.
"Salvatore Ferragamo is playing catch-up at a time when the sector has reached new highs and whilst the challenges remain significant we see little downside,” the broker says.
Copyright (c) 2018 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.