Kering: Invest Securities downgrades stock
(CercleFinance.com) - Invest Securities said this morning that the Covid-19 crisis and its domino effect are becoming a major challenge.
Kering is naturally affected by its exposure in China, but also by its strong presence in Europe in the two countries that have the greatest risk of an epidemic, with a very active presence in the tourist markets in both France and Italy, the broker says.
Gucci and BV also have all their production based in Italy - respectively in Florence and Venetia, which is highly likely to disrupt the operation of the value chain, analysts add.
Analysts have reduced their forecasts once more, with the momentum remaining bearish.
Invest Securities has therefore downgraded its rating on the share to Neutral (vs. Buy previously) and has cut its corresponding target price to 540 euros (against 618 euros).
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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.
Kering is naturally affected by its exposure in China, but also by its strong presence in Europe in the two countries that have the greatest risk of an epidemic, with a very active presence in the tourist markets in both France and Italy, the broker says.
Gucci and BV also have all their production based in Italy - respectively in Florence and Venetia, which is highly likely to disrupt the operation of the value chain, analysts add.
Analysts have reduced their forecasts once more, with the momentum remaining bearish.
Invest Securities has therefore downgraded its rating on the share to Neutral (vs. Buy previously) and has cut its corresponding target price to 540 euros (against 618 euros).
Copyright (c) 2020 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.