Kering: Bryan Garnier raises target price.
(CercleFinance.com) - While maintaining its "neutral" rating on Kering, Bryan Garnier is raising its fair value for the share from 280 euros to 290 euros, ahead of the publication of the group's interim results which is scheduled for 27 July.
According to the broker, "H1 Kering results should be very healthy with a significant sales increase (despite some slowdown vs an exceptional Q1) and a clear profitability improvement (+290bp to 17.2%)."
Therefore, Bryan Garnier is slightly raising its earnings estimates for 2017-2019, although remains neutral on the luxury group's stock given its 44% increase since the start of 2017 (against +18% for the sector on average).
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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.
According to the broker, "H1 Kering results should be very healthy with a significant sales increase (despite some slowdown vs an exceptional Q1) and a clear profitability improvement (+290bp to 17.2%)."
Therefore, Bryan Garnier is slightly raising its earnings estimates for 2017-2019, although remains neutral on the luxury group's stock given its 44% increase since the start of 2017 (against +18% for the sector on average).
Copyright (c) 2017 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.