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UBS maintains an 'Underweight' rating on Salvatore Ferragamo, setting a price target of 5.6 euros ahead of the luxury brand's 2024 results due on January 30. The broker anticipates a -6.6% decline in sales for Q4 2024, following a -7.4% drop in Q3, with full-year sales projected at 1.029 billion euros and recurring EBIT at 30 million euros.
UBS has maintained its 'underweight' rating on Salvatore Ferragamo, setting a price target of 5.6 euros ahead of the luxury brand's 2024 results due on January 30. The firm anticipates a 6.6% decline in sales for Q4 2024, following a 7.4% drop in Q3, with Barclays projecting full-year sales of 1.029 billion euros and a recurring EBIT of 30 million euros.
BP Plc and Japan's Jera Co. are merging their offshore wind businesses to form a new joint venture, JERA Nex bp, with plans to invest up to $5.8 billion by the end of the decade. The venture will initially focus on existing projects in Europe, Australia, and Japan.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32, citing concerns over Volkswagen's performance, of which Porsche holds a 31.9% stake. The firm highlights ongoing execution issues, declining sales in China, and insufficient cost management as factors hindering Porsche's margin recovery.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32. This decision is influenced by a lowered target for Volkswagen, in which Porsche SE holds a 31.9% stake. UBS cites ongoing execution issues, declining volumes in China, and a lack of cost discipline as factors hindering Porsche's margin recovery.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32. This decision is influenced by a lowered target for Volkswagen, in which Porsche SE holds a 31.9% stake, and concerns over Porsche's margin recovery due to ongoing execution issues, declining sales in China, and insufficient cost management.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32. This decision is influenced by a lowered target for Volkswagen, in which Porsche SE holds a 31.9% stake. UBS cites ongoing execution issues, declining volume in China, and a lack of cost discipline as factors hindering Porsche's margin recovery.
UBS has downgraded its recommendation on Porsche Automobil Holding from 'neutral' to 'sell', reducing the price target from €42 to €32, indicating an 8% downside potential for the shares. This decision stems from recent price target reductions on Volkswagen and Porsche shares, alongside concerns regarding the company's ability to pay dividends.
UBS has downgraded its recommendation for Porsche Automobil Holding from 'neutral' to 'sell', reducing the price target from €42 to €32, indicating an 8% downside potential for the stock. This decision reflects concerns over the company's ability to pay dividends amid growing uncertainty.
The EUR/CHF exchange rate has fallen to around 0.93, its lowest point this year, driven by political uncertainty and a bleak economic outlook in Europe, which favors the Swiss franc as a safe haven. With the European Central Bank expected to adopt a dovish stance, including a potential rate cut, the downward pressure on the euro is likely to persist. Technical analysis indicates that a pullback below the support zone could lead to a test of the 0.90 threshold.
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UBS Maintains Underweight Rating on Salvatore Ferragamo Ahead of 2024 Results
11:00 09.12.2024
UBS Maintains Underweight Rating on Salvatore Ferragamo Ahead of 2024 Results
10:55 09.12.2024
bp and jera to invest 5.8 billion in offshore wind joint venture
10:45 09.12.2024
UBS Downgrades Porsche to Sell Amid Concerns Over Recovery and Margins
10:45 09.12.2024
UBS Downgrades Porsche to Sell Amid Concerns Over Volkswagen Performance
10:44 09.12.2024
UBS Downgrades Porsche to Sell Amid Concerns Over Volkswagen Performance
10:44 09.12.2024
UBS Downgrades Porsche to Sell Amid Concerns Over Volkswagen Performance
10:44 09.12.2024
UBS Downgrades Porsche Automobil Holding to Sell with Lower Price Target
10:28 09.12.2024
UBS Downgrades Porsche Automobil Holding to Sell with Lower Price Target
10:25 09.12.2024
Euro Struggles Against Swiss Franc Amid Gloomy Economic Outlook
10:10 09.12.2024
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