UBS has made revisions to its ratings and target prices for several major European luxury stocks, indicating a change in its recommendations.
Hugo Boss has been upgraded from "Neutral" to "Buy," with the target price raised to €49 per share from €41.
Salvatore Ferragamo's rating has been improved from "Sell" to "Neutral," and Brunello Cucinelli's target price has been increased to €108 per share from €106.
On the other hand, UBS has reduced the target price for Moncler to €50 per share from €53 and for Hermès to €2,475 from €2,515.
Other adjustments include an increase in the target price for Burberry to 1,000p from 975p, Richemont to CHF 150 from CHF 144, Kering to €228 from €227, LVMH to €648 from €629, and Swatch to CHF 140 from CHF 127.
These changes reflect a cautious optimism in the luxury sector, with selective upgrades and downgrades based on market dynamics.