(News Bulletin 247) – UBS raises its opinion on the value by switching to the purchase (against neutral) and raises its price target to 55 E (against 39 E). The analyst expects an acceleration of the dynamic.
“We expect Tod’s to experience an inflection in brand momentum and revenue growth, and we believe the market is underestimating the potential for margin recovery,” UBS said.
‘ The group achieved a turnover of 271 million euros in the 1st quarter 10% higher than forecast (+9% compared to UBSe), with growth at constant exchange rates of 23% year-on-year ( forecasts +12%, UBSe +14%)’ recalls UBS.
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