Moncler: Oddo BHF raises target price

(CercleFinance.com) - While maintaining its 'neutral' opinion on Moncler, Oddo BHF has raised its target price from E63.
3 to E65.2, to reflect more favourable market parameters (in particular, beta coefficient reduced from 1.28 to 1.24).

The broker notes that the share has posted one of the best performances in the sector YTD, and is now trading at a 5% premium to the sector benchmark LVMH on the basis of P/E and EV/EBIT multiples.

These factors lead it to adopt a cautious stance, as Moncler is unlikely to maintain strong growth over the rest of the year, while Stone Island remains in a repositioning phase, it warns.


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