The analyst hails a solid first quarter and confirms his buy recommendation on the stock, with a price target of E78, representing a potential upside of 17%.

' The Moncler brand's first-quarter retail sales exceeded expectations. Despite a more cautious tone in the second quarter, we expect Moncler to outperform even in the hottest months of the year' says UBS.

' First-quarter growth for the c.FX Group was +16% (vs. consensus +11%, UBSe forecast +13%). Moncler brand first-quarter sales of 705 million euros were up +5% (vs. +4% for UBSe), with c.FX growth of +20% (vs. consensus +15%, UBSe +16%)' adds the research firm.

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