UBS reaffirms its 'sell' recommendation on Salvatore Ferragamo with a price target lowered from 10.5 to 9.5 euros, a new target which implies a potential 11% drop in the share price of the Italian luxury footwear house.

Despite a completely renewed brand offering, the broker anticipates a 15% organic drop in first-quarter sales, 'with a widening performance gap with its peers, despite a much easier basis for comparison'.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.