Mytheresa price target raised to $6.50 from $4 at Jefferies

Jefferies analyst Ashley Helgans raised the firm’s price target on Mytheresa (MYTE) to $6.50 from $4 and keeps a Hold rating on the shares. Mytheresa’s Q1 sales missed estimates slightly, but EBITDA beat on a positive gross margin inflection that was earlier than anticipated, which was led by industry stock levels that declined and more full-price selling as inventory declined 3% year over year, the analyst tells investors in a research note. The aspirational customer has started to improve and should continue to do so during the holiday season without the election uncertainty, Jefferies adds.