tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Mytheresa downgraded to Hold from Buy at Jefferies

Jefferies downgraded Mytheresa to Hold from Buy with a price target of $4, down from $19, after taking over coverage of the name. The analyst sees fiscal 2024 uncertainty due to excess inventory and a further macro slowdown. While Mytheresa’s higher-end customers are holding up better, there is a risk for broader slowdown, and key for improved sentiment is normalizing inventor, the analyst tells investors in a research note. The firm sees further margin pressure and its estimates are below consensus.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on MYTE:

Disclaimer & DisclosureReport an Issue

1