Morgan Stanley lowered the firm’s price target on Birkenstock (BIRK) to $47 from $57 and keeps an Equal Weight rating on the shares ahead of the Capital Markets Day taking place in New York City tomorrow and following the company’s Q1 trading statement published on January 12. Bears expect Birkenstock to lower medium-term growth guidance tomorrow given consistent deceleration since FY21, but the firm questions “will that be the case?”
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