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Investing.com - Jefferies has raised its price target on Hugo Boss (ETR:BOSSn) AG (ETR:BOSS) (OTC:BOSSY) to EUR41.00 from EUR36.00 while maintaining a Hold rating on the stock.
The price target increase comes despite Jefferies’ expectation that consensus estimates for Hugo Boss will emerge "modestly lower" despite the company’s Q2 EBIT beat.
Jefferies noted that its estimates are now approximately 2% below pre-print consensus EBIT for the German fashion retailer.
The firm believes visibility remains limited in the near term as comparisons toughen and the promotional environment remains elevated, though it acknowledges Hugo Boss remains highly leveraged to the US and European consumer cycles.
The new price target of EUR41 is based on a target 11.3x 2026E P/E multiple, which Jefferies says reflects the broad re-rating across peers in recent weeks.
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