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Superdry shares rise as Deutsche Bank upgrades it to ‘buy’ from ‘hold’

“We believe now is an attractive entry point into a story with self-help opportunities, margin expansion potential and strong cash generation,” the analysts said

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In late morning trading, Superdry’s shares rose 1.4% to 1,363.00p

Shares in Superdry PLC (LON:SDRY) rose as Deutsche Bank increased its recommendation to ‘buy’ from ‘hold’, saying that company’s share price now reflects value for money.

The German bank’s analyst also increased Superdry’s price target to 1,610p from 1,430p

READ: Superdry announces special dividend as it bucks the trend with strong sales and profits

In a note to clients, analysts said that concerns around its store like-for-like performance and its brand health have driven a de-rating of over seven PE points since January, but de-rating is overdone and valuation is now attractive.

The analysts think that with double-digit profit growth forecast as well as a long-term global opportunities, Superdry’s investment thesis is far more exciting.

“We believe now is an attractive entry point into a story with self-help opportunities, margin expansion potential and strong cash generation,” the analysts said.

In late morning trading, Superdry’s shares rose 1.4% to 1,363.00p

Quick facts: Superdry PLC

Price: 479.8 GBX

LSE:SDRY
Market: LSE
Market Cap: £393.45 m
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