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 Hellofresh'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 company as it deals with current market challenges.