HelloFresh has been upgraded by UBS AG from "Sell" to "Neutral," with a price target increase from €6.20 to €10.60. This adjustment comes as the company's shares have seen a significant decline of around 29% this year, despite a recent recovery.
Analyst Jo Barnet-Lamb mentioned that the current share price now adequately reflects the risk/reward ratio. The upgrade also indicates increased confidence in HelloFresh's strategic direction, supported by reduced cost of capital forecasts and higher earnings estimates.
The analysis was published on October 30, 2024, and represents a notable change in UBS's outlook on the company.