Kering: UBS cuts target price
(CercleFinance.com) - UBS is sticking to its neutral rating on the Kering stock, reducing its target price for it to E446 (from E511) ahead of the publication of the luxury group's Q3 2023 results.
"We see long-term value in KER's brand portfolio; however, its path to recovery may be longer and more costly in the current slowing sector context," UBS says.
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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 see long-term value in KER's brand portfolio; however, its path to recovery may be longer and more costly in the current slowing sector context," UBS says.
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.