(News Bulletin 247) – UBS believes that in terms of the 2023 outlook, there are multiple sources of upside. The analyst confirms his advice to buy the stock and raises his target price to 69 E (instead of 63 E).
‘A solid Q4 which reinforces our conviction in our estimates above consensus (+10% on EPS)’ indicates UBS.
The turnover of the group in the fourth quarter, which amounted to 1,046 million euros, is 6% higher than forecast (+5% compared to the UBS index). Sales of the Moncler brand in the fourth quarter amounted to 949 million euros (+6% compared to forecasts and the UBS index), with growth of +16% at exchange rates (forecasts +9% , UBS index +10%).
Its operating income (Ebit) rose to 774.5 million euros, representing a profit margin of 29.8% against 29.5% in 2021, beating analysts’ estimates.
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