Moncler: Oddo BHF on hold, cuts target price
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Moncler, with its new TP for the Italian winterwear house, lowered from E69 to E65, reflecting upside potential remaining within the average of sector stocks it covers.
Noting that the share's performance YTD has slumped significantly in recent weeks, the analyst believes that the stock now reflects a more substantial premium (around 5%) in terms of multiples compared with LVMH.
Against a backdrop of now-slowing growth and citing a very difficult basis for comparison in the fourth quarter, Oddo BHF is lowering its forecasts for Moncler and incorporating less favourable market parameters.
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