Kering: Jefferies cuts its target price

(CercleFinance.com) - While maintaining its 'hold' recommendation on Kering, Jefferies has reduced its price target from 340 to 300 euros, believing that 'hopes that Kering might have been able to meet expectations proved misplaced' at the time of its half-yearly publication.


While Gucci's (and the Group's more broadly) upward trajectory continues, it appears to be delayed by intensifying challenges (particularly in travel spending)', according to the broker, who lowers his estimates by 18% for 2024 and 7% for 2025.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
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.