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Kering: Jefferies downgrades stock

( - Jefferies has downgraded its rating on the Kering stock from "buy" to "hold", judging that the luxury group's stock - which is parent company of Gucci and YSL in particular - has limited upside potential relative to its target price, which it has reduced by 16% to 505 euros.

Although we continue to think KER will emerge as one of the Sector winners in the MT and that H2 news flow reversal will be of consequence, we remain cautious on 2021 bounce back for the Sector," the broker said.

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