HelloFresh Shares Surge After UBS Upgrade, Pop-Up Store Aims to Boost Growth
Shares of HelloFresh are surging in the German MDAX index, up six percent on Thursday morning. The boost comes following a positive review by Swiss bank UBS, which upgraded its rating for the meal kit delivery service.
UBS analyst Jo Barnet-Lamb led the valuation, upgrading HelloFresh's rating from 'Neutral' to 'Buy'. The target price was also raised, from 7.60 to 10.80 euros. UBS expects HelloFresh's revenue decline in the last quarter to have slowed and predicts a reversal in the second quarter of next year.
The bank is optimistic about HelloFresh's cost-cutting measures, believing the company will surpass planned savings of 200 million euros. Despite these positive signs, HelloFresh continues to face growth challenges and is exploring new growth sources. One such initiative includes a pop-up store in Berlin's Shop-Ville shopping passage, set to run until the end of October.
HelloFresh's share price is performing strongly, boosted by UBS's positive review. The company's revenue decline is expected to reverse, and cost-saving measures are predicted to exceed targets. Meanwhile, HelloFresh continues to seek new growth opportunities, with a pop-up store in Berlin being one of its latest efforts.
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