(Finance) – Weak day for Tod’swhich changes hands with a drop of 0.23%.
Barclays analysts have revised estimates downwards for the rest of the year, after the luxury footwear company released first-quarter sales data, signaling weak consumption in China. The forecasts for sales and EBIT, for the fiscal year 2024, were reduced by around 2% by experts. The target price on the stock was confirmed at 43 euros which “reflects the price of the public offer” and the “equal weight” judgment.
The technical scenario seen in one week of the stock compared to the index FTSE Italia All-Sharehighlights a slowdown in the trend ofluxury footwear company compared toItalian stock indexand this makes the stock a potential selling target for investors.
The current graph of Tod’s highlights a phase of folding of the curve at the floor test identified in the 42.73 Euro area. Otherwise, positive elements could likely push the stock up to the ceiling represented by the top 42.93. The technical implications favor a continuation of the bearish trend line for a new test of the lows in the 42.63 area.