(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Hugo Boss with a price target raised from 68 to 74 euros, in the wake of EBIT assumptions for 2023-24 raised by 3% before the point of quarterly activity scheduled for May 4, with a better than expected start to the year.
‘Boss is gaining significant market share in Western markets, China is rebounding and the gross margin should benefit from favorable cost winds in visible moderation in the second half of 2023’, estimates the broker.
Also, Stifel sees room for consensus or target hikes during 2023 that could support the stock’s bullish momentum. He expects the German clothing group to raise its financial targets in mid-June.
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