Hugo Boss shares saw a significant recovery, rising by almost 5 percent to reach 34.22 euros after receiving a buy recommendation from UBS. This follows a notable decline of up to 18 percent last week, which marked the stock's lowest point since early 2021.

The recent stabilization indicates a potential turning point for the fashion group. According to UBS analyst Susy Tibaldi, the downward revision of earnings estimates for Hugo Boss may be coming to an end. The consensus forecast for earnings per share has decreased by more than a third since the beginning of the year. However, with expectations of a rebound in private consumer spending in the coming year, the outlook for the stock appears more positive, leading to the upgrade from "Neutral" to "Buy."