Kering: Jefferies inches up target price
(CercleFinance.com) - Jefferies has reinstated its "buy" recommendation on the Kering stock and has raised its target price by 2% to 465 euros, re-examining the prior to its FY results, which are due out on 13 February, and in light of the group's announcement regarding Puma.
The broker has made minor adjustments to its estimates this time around, "almost entirely because of Gucci, as the fourth quarter's performance may exceed initial expectations and the momentum is still moving in the right direction."
"Proposed action on Puma is a plus albeit not a game changer," adds the broker, for which the revaluation of the Kering stock in 2017 still leaves further upside.
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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.
The broker has made minor adjustments to its estimates this time around, "almost entirely because of Gucci, as the fourth quarter's performance may exceed initial expectations and the momentum is still moving in the right direction."
"Proposed action on Puma is a plus albeit not a game changer," adds the broker, for which the revaluation of the Kering stock in 2017 still leaves further upside.
Copyright (c) 2018 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.