Moncler: Oddo BHF trims TP
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Moncler shares, with a target price lowered from E53.
9 to E53.
Oddo BHF reports that Moncler is reassuring about the brand's medium-term growth prospects, insisting on well-identified growth axes for the coming years.
Our EBIT forecast for 2024 reflects a margin of 29.1% (29.3% prev.), compared with 30% in 2023. Regarding 2025, we expect 5.2% growth for the Moncler brand (DTC +6.9% wholesale -5.1%), i.e. +5.2% for group sales (we had previously forecast +9% for Moncler DTC), the analyst says.
Beyond the generic objective of expanding its ready-to-wear footprint, the Group intends to ensure the growth of the Moncler brand over the next 3 to 5 years by focusing its efforts on 3 axes now considered priorities, namely the USA, Grenoble, and the spring collections, i.e. the new growth triptych.
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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.
9 to E53.
Oddo BHF reports that Moncler is reassuring about the brand's medium-term growth prospects, insisting on well-identified growth axes for the coming years.
Our EBIT forecast for 2024 reflects a margin of 29.1% (29.3% prev.), compared with 30% in 2023. Regarding 2025, we expect 5.2% growth for the Moncler brand (DTC +6.9% wholesale -5.1%), i.e. +5.2% for group sales (we had previously forecast +9% for Moncler DTC), the analyst says.
Beyond the generic objective of expanding its ready-to-wear footprint, the Group intends to ensure the growth of the Moncler brand over the next 3 to 5 years by focusing its efforts on 3 axes now considered priorities, namely the USA, Grenoble, and the spring collections, i.e. the new growth triptych.
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.