Deutsche Bank has upgraded its recommendation of Hugo Boss to “buy” and says ambitious targets for 2015 have been set by the clothing group, and comments on current trading are very positive. Deutsche Bank has issued a target price of €38 for Hugo Boss and says that uncertainties over management changes are now over.
Royal Bank of Scotland (RBS) has initiated coverage of Allianz with a “buy” rating. RBS says that in its view, concerns over non-life insurance are more than priced in, while the attractive growth dynamics in life insurance are overlooked by investors. RBS has given the insurance company a target price of €110.
UBS maintains a “buy” recommendation of Next and has given the retailer a price target of 2350p. UBS says it thinks Next should trade in line with the peer group given recent market share gains, space expansion and cash generation. UBS says the appeal of the Next brand continues to improve.