HelloFresh has been upgraded by UBS from "Sell" to "Neutral," with a price target increase from €6.20 to €10.60.
According to analyst Jo Barnet-Lamb, despite a recent recovery, HelloFresh shares are still down about 29% this year, which now reflects an appropriate risk/reward ratio.
The upgrade indicates increased confidence in the company's strategic direction, supported by lower capital cost forecasts and higher earnings estimates.