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Moncler: Stifel reduces target price

( - Stifel maintains its "hold" rating on Moncler shares, reducing its target price for them from 60 euros to 53 euros, assuming a lower P/E target multiple, in line with what it has applied to the rest of stocks it covers.

Ahead of the Italian upmarket clothing group's H1 results (27 July), the broker says that it is leaving its EBIT projections unchanged for 2022 and 2023, with slightly higher sales expectations offsetting slightly lower margin assumptions.

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