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Kering: Crédit Suisse raises target price

( - Crédit Suisse has raised its target price for the Kering share from 540 euros to 585 euros, while confirming its buy rating.

The group will publish its Q3 2020 results on 22 October. Prior to this publication, the analyst has raised its estimates for 2020-21 operating profit by 2% to 4%.

"We now forecast -10% organic sales in 3Q and E3.0bn operating profit in FY20e," Crédit Suisse said.

"Our FY20e operating profit estimates are 6% below consensus but in line in FY21e".

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