Ermenegildo Zegna price target raised to $13.80 from $13 at UBS

UBS analyst Susy Tibaldi raised the firm’s price target on Ermenegildo Zegna to $13.80 from $13 and keeps a Neutral rating on the shares. Zegna’s fiscal year results showed a 6% second half EBIT miss versus consensus, the analyst tells investors in a research note. The firm says that while the margin miss led to a negative share price reaction, the company’s comments on the start of 2023 were "very encouraging," with management flagging double-digit growth at retail across all key markets.