A day in strong recovery in Piazza Affari for the share of Salvatore Ferragamo, which one hour after the closing gains 3,2%, to 21,48 euros.
The upside comes after today Credit Suisse has upgraded its rating on the shares of the Italian fashion house from underperform to neutral, keeping the target price unchanged at 21 euros.
A decision made in the light of the growth profile of the group's earnings and the non-excessive valuation at which the share changes hands.
“After holding a bearish view for a year, we no longer see a substantial downside risk to equities which have lost 25% year-to-date versus a 2% decline in the sector,” the Swiss business house explained.
