(News Bulletin 247) – UBS reiterates its advice to buy the stock with a target of 955 E following the ‘sharp improvement in the overall results in the 1st quarter’ according to the analyst.
‘ The group’s organic sales growth in the 1st quarter of +17% exceeded forecasts of +10% (UBSe’s forecast of +14%). Total 1st quarter sales reached €21,035 million, +6% higher than the forecast of €19,915 million (+3% compared to UBSe’s forecast of €20,516 million) , and the Fashion & Leather Goods (F&LG) division, growing by +18%, beat UBSe’s forecasts’ indicates the analysis office.
The group considers that this is ‘an excellent start to the year in a geopolitical and economic context that remains uncertain. ‘
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