BTIG analyst Janine Stichter maintained a Buy rating on Birkenstock Holding plc today and set a price target of $72.00.
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Janine Stichter’s rating is based on several positive developments at Birkenstock Holding plc. The company has reported preliminary financial results for the fourth quarter that exceed expectations, with projected revenues of at least €520 million, surpassing consensus estimates. This strong performance is indicative of robust growth, with a significant year-over-year increase in revenue, and aligns with the company’s reaffirmed EBITDA targets despite foreign exchange challenges.
Additionally, Birkenstock’s strategic acquisition of a production facility near Dresden, Germany, at a favorable price, is expected to enhance its production capacity and support future revenue growth. This acquisition was made possible by the bankruptcy of the previous owner, allowing Birkenstock to purchase the facility at a cost-effective rate. These factors, combined with the company’s unique growth potential and improving margins, underpin Stichter’s confidence in the stock’s ability to deliver strong returns, even in a volatile economic environment.
In another report released on September 19, J.P. Morgan also maintained a Buy rating on the stock with a $66.00 price target.