UBS downgrades its recommendation on Hugo Boss from 'buy' to 'neutral' with a price target reduced from 82 to 57 euros, a new target leaving only 10% upside potential for the German high-end clothing house's stock.

The increasingly difficult environment in the sector may jeopardize margin targets, despite Hugo Boss' ongoing outperformance of its peers", warns the broker in the summary of its research note.

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