ZURICH (dpa-AFX Broker) - Swiss bank Credit Suisse downgraded Hellofresh to "neutral" from "outperform" and halved its price target to 29 euros from 58 euros. The cooking box supplier faces a number of challenges in the near term that overshadow its solid fundamentals, analyst Joseph Barnet-Lamb wrote in a research note available Wednesday. He pointed to economic uncertainties, the ambitious investment cycle and the end of strong Covid-driven growth. In the near term, new customer and revenue growth should be weaker and profits should suffer from rising costs. However, Hellofresh remains a market leader in a large and structurally growing market, has a healthy balance sheet and is already profitable./gl/mis

Publication of the original study: 08.02.2023 / 04:44 / UTC First disclosure of the original study: Date not stated in study / Time not stated in study / Time zone not stated in study

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