Moncler: Stifel raises target price

(CercleFinance.com) - Stifel maintains its 'Hold' recommendation on Moncler shares, although raises its target price for them to E63 (from E54).


We are raising our FY2025-2026 EBIT forecasts for Moncler by 5% and 3%, respectively, reflecting a higher FY2024 sales base and higher margin assumptions following last week's better-than-expected FY2024 results, Stifel says.

We are raising our target price to E63 (from E54) and maintaining our 'Hold' rating, as we believe that the current valuation of the share (27x 2025) is very high and leaves limited room for improvement if our sales growth assumptions of +5% for FY 2025 and +8%-9% for FY 26-27 with stable margins prove to be more or less correct, the broker adds.

Stifel believes that the strong desirability of the Moncler brand in Asia-Pacific and the high quality of its management remain key reasons for long-term investors to take an interest in the brand.


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