Hugo Boss: Hold Rating Amidst Uncertain Sales Outlook and Trade Concerns

Rogerio Fujimori, an analyst from Stifel Nicolaus, maintained the Hold rating on Hugo Boss (0Q8F – Research Report). The associated price target was lowered to €39.00.

Rogerio Fujimori’s rating is based on a combination of factors that reflect both the current challenges and potential opportunities for Hugo Boss. The company is expected to have a slow start to the year, with a projected decline in sales and EBIT, which has led to a slight reduction in earnings forecasts for the upcoming years. Despite a cheap valuation that may limit downside risk, the stock lacks significant catalysts for outperformance due to an uninspiring sales outlook and concerns over potential US tariffs affecting margins.
Additionally, while sourcing efficiencies and tight operational expense control are helping to protect margins, the lack of strong organic sales growth, particularly in brick-and-mortar retail, remains a concern. The uncertainty surrounding consumer sentiment in key markets like the US, Europe, and China, compounded by trade tensions, further clouds the outlook for 2025. As a result, Fujimori maintains a Hold rating, suggesting that while there are elements of stability, the stock does not currently present a compelling case for significant upside.

According to TipRanks, Fujimori is a 3-star analyst with an average return of 2.4% and a 50.69% success rate. Fujimori covers the Consumer Cyclical sector, focusing on stocks such as Hermes International, Prada SpA, and The Swatch Group.

In another report released on April 8, J.P. Morgan also maintained a Hold rating on the stock with a €44.00 price target.