Prada: Credit Suisse remains neutral, cuts target

(CercleFinance.com) - Credit Suisse analysts this morning said that they remain neutral towards the share of Italian luxury group Prada, having cut their corresponding target price.


Analysts have therefore their target price from 25 Hong Kong dollars to 21 HKD, where it is listed.

"4Q full price sales acceleration... was indeed encouraging for a brand at turnaround phase. However, >40% exposure to Europe and further uncertainties over COVID-19 not only lead to store closures and traffic declines in the near term but also negatively impact consumer sentiment and wealth in the medium-term," Credit Suisse laments.


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