(CercleFinance.com) – Jefferies is buying the stock with a price target set at $52.
‘ Birkenstock’s first reported quarter after the IPO was marked by a turnover of around 375 million euros (+16% year-on-year) and an EBITDA of around 96ME (~26% of margin) ‘ underlines the analysis office.
‘We consider the performances to be encouraging, in particular the solidity of turnover recorded in the Americas (+30% year-on-year). The EBITDA outlook could be considered mixed; however, we believe management is likely exercising caution,’ says Jefferies.
‘We recommend investors buy shares given the current weakness.’
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