Kering: Oddo still on hold
(CercleFinance.com) - Oddo says that, over the summer, Kering's brands posted a visible sequential improvement, with growth exceeding expectations in China and the US.
However, the broker confirms its neutral rating on the share with a target price of 494 euros (current price: 570 euros, +2%).
Analysts say that overall organic growth in Q3 should clearly outperform the -10% that they were initially expecting, but that it is probably still too early to expect a return to near-zero or even positive growth.
Oddo also believes that Kering as a whole should be able to end the quarter with positive organic growth in the US. The analyst notes that the trend in September does not seem to show any noticeable decline.
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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.
However, the broker confirms its neutral rating on the share with a target price of 494 euros (current price: 570 euros, +2%).
Analysts say that overall organic growth in Q3 should clearly outperform the -10% that they were initially expecting, but that it is probably still too early to expect a return to near-zero or even positive growth.
Oddo also believes that Kering as a whole should be able to end the quarter with positive organic growth in the US. The analyst notes that the trend in September does not seem to show any noticeable decline.
Copyright (c) 2020 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.