Moncler: Oddo raises target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Moncler shares, increasing its target price for them from 53 euros to 61 euros, which, beyond a new year effect, reflects a one-point increase in its annual sales growth assumption (from 9% to 10%) over 2025-2028.


The broker says that the investment thesis deserves to be rediscovered in view of the stock's recent lacklustre performance, pointing out that the Italian clothing house's share price lost nearly a quarter (23%) of its value in 2022 (compared with around -10% for the sector).

Its discount in terms of P/E and EV/EBIT multiples compared to the sector average is now close to 10%, Oddo stresses, which maintains its confidence in its fundamentals and its ability to outperform the industry.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.