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Kering: Jefferies still a buyer, adjusts target

( - While cutting its target price from 666 euros to 600 euros, Jefferies reinstates its "buy" recommendation on the Kering share, which, in a sector report, it presents as its best pick in the European luxury sector, alongside Moncler.

The broker highlights the exposure of the French luxury group, which is the parent company of Gucci and Yves Saint-Laurent, amongst other brands, to a recovery in luxury in China, and thinks that it should show improving metrics from late Q2".

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