HelloFresh has been upgraded by UBS from "Sell" to "Neutral," with a price target increase from 6.20 euros to 10.60 euros.
The analyst at 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 investment recommendation indicates a more positive outlook for the food box delivery service as it deals with current market challenges.