Kering: Invest Securities still a buyer - ups target price
(CercleFinance.com) - Invest Securities maintains its "buy" rating on the Kering share, having raised its corresponding target price from 495 euros to 635 euros, saying that its luxury brand Gucci is far from having reaped all fruits from its reinvention.
The broker also notes the exemplary recurrence of the growth momentum of YSL, and believes that BV should, although timing is uncertain, return to a growth trajectory that is inspired by the strategies of its glorious predecessors.
The analyst who monitors the share says that, in this context, the only real question is what the group will do with the huge amounts of cash (free cash flow of over three billion euros) on which the group is potentially sitting.
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