Henrik Paganetty, an analyst from Jefferies, maintained the Buy rating on Douglas AG. The associated price target was lowered to €12.00.
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Henrik Paganetty has given his Buy rating due to a combination of factors, despite Douglas lowering its 2026 outlook amid heavier discounting and subdued consumer confidence in the euro area. The company now anticipates sales at the bottom of its prior €4.65–4.80 billion range and a reduced adjusted EBITDA margin of about 16%, following weaker-than-expected preliminary second-quarter results and sizeable impairments that led to a substantial net loss.
In response, Paganetty has trimmed his gross and net profit forecasts and revised his price target down to €12 from €14, reflecting the more cautious guidance and recent earnings shortfall. However, he retains a Buy recommendation because the shares still look attractively valued, trading at roughly 8 times projected fiscal 2026/27 earnings, which he views as offering a compelling risk-reward profile for investors willing to look beyond the near-term headwinds.
In another report released on April 23, Citi also maintained a Buy rating on the stock with a €17.60 price target.