Moncler: posts double-digit growth in third quarter
(CercleFinance.com) - Italian luxury jacket maker Moncler reported double-digit growth in its third-quarter sales, sending its shares up 8% in Milan on Friday.
In the first nine months of the year, its consolidated revenues rose 14% 995.3 million euros. Sales grew by 12% in the period at constant exchange rates, the company said.
In a note issued this morning, UBS analysts - who have a "buy" rating on the stock with a target price of 40 euros - said Moncler's growth story "remains intact".
"We think like-for-like ahead of expectations and confident management tone will dismiss investors' concerns. With shares at 7% discount to the sector, we expect a rebound," they wrote.
They were rigth, with the Moncler share up 8.3% at 35.2 euros in Milan at lunchtime on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In the first nine months of the year, its consolidated revenues rose 14% 995.3 million euros. Sales grew by 12% in the period at constant exchange rates, the company said.
In a note issued this morning, UBS analysts - who have a "buy" rating on the stock with a target price of 40 euros - said Moncler's growth story "remains intact".
"We think like-for-like ahead of expectations and confident management tone will dismiss investors' concerns. With shares at 7% discount to the sector, we expect a rebound," they wrote.
They were rigth, with the Moncler share up 8.3% at 35.2 euros in Milan at lunchtime on Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.