Kering: Barclays still neutral, but raises target price

(CercleFinance.com) - On Thursday Barclays raised its target price for Kering to 610 euros (from 555 euros) in a study of the European luxury goods sector.


The analyst - who maintains his "equal weight" rating on the stock - said he expects the sector to show some "resilience" in 2023, despite the many risks surrounding the economy.

The broker expects the sector to grow by 9% this year, supported by the reopening of the Chinese economy and the possibility of a "soft landing" in growth in the US and Europe.

As noon approaches Kering shares are up the best part of 1% - nothing spectacular, although better than the market, which can't quite keep afloat.


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