Kering: Jefferies raises target price
(CercleFinance.com) - Jefferies reiterates its buy rating on the Kering stock, having raised its target price for it to E655 (from E565).
"We focus on Gucci here and see FY23 as a clear year of transition with possible uptick in momentum from H2 - there is upside to this but also no real visibility at this time," the broker said.
"We think mgns should hold at around the 36% mark," Jefferies adds.
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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.
"We focus on Gucci here and see FY23 as a clear year of transition with possible uptick in momentum from H2 - there is upside to this but also no real visibility at this time," the broker said.
"We think mgns should hold at around the 36% mark," Jefferies adds.
Copyright (c) 2023 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.