Moncler: Oddo still a buyer, trims target price
(CercleFinance.com) - Oddo maintains its Outperform rating on Moncler shares, although has reduced its target price to 49 euros (from 53 euros).
Oddo says that the trend remains generally favourable, with the group appearing reasonably confident for Q4 despite the context.
Analysts are not modifying their annual forecasts at this stage, although are slightly adjusting 2022 forecasts (-1% for sales and EBIT) integrating a Q3/Q4 sequence that is more in line with the consensus.
To reflect the new market parameters, Oddo is adjusting its price target to 49 euros.
However, this new target price still suggests upside potential of around over the next 12 months.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.