Salvatore Ferragamo: UBS upgrades stock

(CercleFinance.com) - UBS has upgraded Salvatore Ferragamo from 'sell' to 'neutral', while maintaining its target price for the Italian luxury clothing, footwear and accessories house at E6.


While remaining cautious about the group's fundamentals, the broker considers that its shares appear to be correctly valued, with a relative valuation at an all-time low after a 55% drop in the share price since the beginning of the year.


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