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.
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Read More on MYTE:
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- MYT Netherlands Sees Sales Growth Amid Rising Losses
- Mytheresa reports Q1 EPS (EUR0.27) vs. (EUR0.14) last year
- MYTE Earnings this Week: How Will it Perform?
- Mytheresa rises 20.7%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
