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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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
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.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.