DB cuts About You to 'hold' on limited upside catalysts

ABOUT YOU Holding SE

22/09/2022 10:50

** Deutsche Bank cuts German online fashion retailer About
You  YOUG.DE  to "hold" from "buy," citing uncertainties on the
market and limited upside catalysts
    ** The brokerage says it will stick to its rating until the
market gets through the winter months in Europe and consumer
spending recovers
    ** However, it continues to believe that among the online
fashion players in Europe, About You is well-positioned with its
exposure to celebrity-linked assortments and already-profitable
and growing B2B business
    ** DB also notes that although About You has cut its growth
estimate for 2023 to around 10-20% from 25-35%, the forecast "is
still better" than growth outlooks of its larger peers Zalando
(3-7%) and Asos/BooHoo (5-8%)
    ** Out of 11 analysts, six rate the stock "buy"/"strong
buy", two rate it "hold" and three "sell"
 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))