Salvatore Ferragamo: Berenberg starts coverage with 'hold'

(CercleFinance.com) - Berenberg has initiated its coverage of the Salvatore Ferragamo stock with a "hold" rating and a target price of 17 euros, with a potential slowdown in Chinese having brought the luxury goods sector's valuation back in line with its historical average.


The broker - which has begun its coverage of several Italian luxury goods groups - said they offer investors plenty of turnaround opportunities, as well as M&A upside potential.

While Berenberg is a buyer of both the Moncler and Prada stocks, it has "hold" ratings on Tod's and Ferragamo.

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