on MWB AG (isin : DE000A4032H1)
NuWays AG Maintains Hold Rating on MWB AG Amidst Market Challenges
NuWays AG has released an update on MWB AG, maintaining a "Hold" recommendation with a target price of EUR 50.00 for the next 12 months. This decision comes even as The Platform Group's acquisition of Chronext via asset-deal highlights interest in the secondhand watch market. Despite this, the market remains subdued as prices continue to stabilize at low levels.
The transaction involving Chronext, purchased out of insolvency, is not seen as a valuation benchmark for MWB due to differences in operational scale and function. Yet, it reflects a trend towards interest in secondhand watches, buoyed by scarcity in the firsthand market. However, market conditions remain tough, with a notable decline in inventory turnover.
MWB's resilience lies in a strong customer trust and ability to locate in-demand watches swiftly, positioning it to capture future growth despite current challenges. NuWays sees potential for MWB but advises awaiting improved conditions with a stable "Hold" outlook.
R. E.
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