Kering: Invest Securities raises target price.

(CercleFinance.com) - Invest Securities has confirmed its "buy" recommendation on Kering, raising its target price from 240 euros to 260 euros, ahead of the forthcoming publication of the luxury goods group's quarterly sales, which "should confirm the strength of the Gucci brand's redeployment".


The analyst sees it as "a tidal wave, based on an intransigent repositioning, a strategy whose depth and dedicated means both lead to a resounding success, with very appropriate timing in view of the sector's renewed momentum".

"The expected figures (with Gucci Group projecting sales to rise by 16% to 2.09 billion in Q1, up 16%, against Invest Securities' forecast of 2.07 billion euros) cannot be transposed, although the support from growth inspires confidence in the company's annualisation of forecasts," he continues.


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