UBS reiterates its ‘buy’ recommendation on Moncler despite a price target reduced from 62 to 57 euros, a new target which nevertheless implies a potential upside of 34% for the title of the Italian manufacturer of high-end winter clothing.
In the summary of its research note, the broker explains that it sees only ‘limited risk of reduced earnings this year and next, despite the extremely bearish sentiment among investors’. ‘The action seems poorly valued’, he adds.
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