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Kering: Oddo BHF starts to cover with 'buy' rating

(CercleFinance.com) - Oddo BHF initiates coverage of the Kering share with a "buy" rating and a target price of 654 euros (12% upside), in a report on the five major capitalisations in the European luxury goods sector, on which it is initiating coverage.

Analysts have a clearly positive stance regarding the three soft luxury giants, Hermès, LVMH and Kering ("buy" ratings on all three) for which it expects top line growth to remain above 5% p.a. over the next few years.

However, the broker says that it is more cautious regarding Richemont and Swatch, which seem to have lower growth outlooks, adds the analyst who monitors the shares. Indeed, he has adopted "reduce" ratings on the shares of these two Swiss sector players.

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