Salvatore Ferragamo: UBS cuts TP

(CercleFinance.com) - UBS confirms its 'sell' recommendation on Salvatore Ferragamo with a target price lowered from E10.
5 to E9.5, which now represents 11% downside potential for the share of the Italian luxury footwear house.

Despite a completely renewed brand offering, the broker anticipates a 15% organic drop in Q1, "with a widening performance gap vs. peers despite a meaningfully easier comp base".


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