Kering:Invest Securities remains 'neutral' and raises target

(CercleFinance.com) - Invest Securities maintains its 'Neutral' rating on the Kering share, upping its target price from 569 to 575 euros.


Invest considers that Kering's main issue is being faced with factors that are very specific to it including a relaunch of the Gucci brand that remains to be promoted, hard-to-swallow mistakes in Balenciaga's marketing and a certain loss of steam for BV and YSL.

In contrast, Kering's peers are riding a wave of impressive dynamics, leading the analyst to suspect that LV, Christian Dior and Hermes might be benefitting from direct transfers of market share.

The analyst concludes that meanwhile, 2023 risks being a year of transition for Kering at best, with increased downward sensitivity if the economic situation were to decline, which it considers probable in the USA, if not in Europe.

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