Kering: Stifel lowers target price

(CercleFinance.com) - While maintaining its 'hold' recommendation on Kering shares, Stifel has lowered its target price for them from E275 to E255, in the wake of a 15% reduction in its 2024-25 EBIT projections, following the third profit warning of the year.


We're still waiting for the brown shoots to turn green for Gucci, it says. With a 25% drop in Q3 sales, Gucci has yet to narrow the sales performance gap with its peers in a difficult external environment.

While expectations for 2025 are falling, the broker considers that earnings revisions expected for the luxury group still need to stabilise before the share can finally find a floor.


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