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: