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Moncler: stock up - broker points to attractive valuation

( - Moncler shares managed to stay afloat on the FTSE MIB on Monday - up 0.
6%, pretty much a mirror image of the Milan index's fall, after HSBC upgraded the Italian luxury down jacket maker to buy.

The upmarket winter clothing designer's stock inched up 0.2%, while the benchmark Milan stock market index fell over 1%.

HSBC upgraded its rating on the stock from "hold" to "buy", while maintaining its corresponding target price at 53 euros.

Even though investors are concerned about the evolution of Western markets due to high inflation and volatility in China, analysts believe that the share's current valuation seems attractive for a stock of such quality with such a bright medium-term outlook, anaysts said.

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