(AOF) – Several brokers have started monitoring Birkenstock, the famous sandal manufacturer which went public in New York in October. The introductory price was set at $46. On the stock market, Birkenstock shares gained 0.83% to $41.50 even though several research offices are neutral on the value, judging that it is well valued. This is the case for UBS, which has a price target of $44, representing an upside potential of 9%. He considers that the strong growth potential is already well taken into account in the prices.
Morgan Stanley is at Line Weight with a price target of $41. If he recognizes that the company has a certain number of attractions from a financial point of view, he also judges that they are integrated into the valuation of the stock.
In the same camp, Bernstein notes that “shoe brands thrive on consumer interest, grow, become ubiquitous, then disappear or come back (rarely).” For the analyst, the good news is that Birkenstock’s awareness has increased over the past ten years and has increased over the last two. According to him, this dynamic could continue.
Jefferies is Buy, targeting $50. “Given its historic brand and loyal customer base, we believe the company is well positioned to deliver strong revenue growth, maintain its attractive margin profile and expand its addressable market,” explains the intermediary. .
JPMorgan also has a favorable recommendation and a price target of $48. The research firm considers management’s annual revenue growth target of around 15% to 20%, for an Ebitda margin of around 30% (around 10 points above global competitors). of the footwear sector), as a “cautious” basic assumption.
© 2023 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
