Moncler: Oddo BHF lowers target price

(CercleFinance.com) - While maintaining its 'neutral' rating on Moncler shares, Oddo BHF has lowered its target price for them from E60 to E55, citing an accentuated slowdown in Asia and an uncertain end to the year in its comments on the Italian winter clothing house.


The broker justifies its TP cut by reducing its short-term earnings forecasts, taking into account slightly less favourable long-term growth and less favourable Oddo BHF risk premium parameters.

The 12m upside potential, based on this new TP appears to be significantly lower than that which we determine for stocks in the sector with a similar profile, such as Prada or Brunello Cucinelli, the analyst adds.


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