Birkenstock holder sales ‘tough hill to climb,’ says Bernstein

Bernstein says that while Birkenstock is “making strides,” the shareholder stake sales are a “tough hill to climb.” The company’s recent results demonstrate Birkenstock’s business is “delivering strongly,” and sell-side consensus revenue forecasts are now above the upgraded guidance range, the analyst tells investors in a research note. The firm believes there could even be upside to consensus numbers should Birkenstock’s first half of 2024 performance continue despite the macro backdrop. Bernstein keeps a Market Perform rating on the shares.