Hellofresh has been upgraded by UBS from "Sell" to "Neutral" and its price target has been increased from 6.20 to 10.60 euros.
The analyst from the Swiss bank, Jo Barnet-Lamb, mentioned that despite a recent recovery, Hellofresh shares are still down about 29 percent this year, which now reflects a suitable risk/reward ratio.
The upgrade is due to increased confidence in the company's strategic direction, supported by reduced cost of capital forecasts and higher earnings estimates.
This change in outlook comes as Hellofresh navigates a challenging market environment while aiming to improve its operational efficiency.