BofA downgraded Kering to Neutral from Buy. The firm does not believe luxury stocks will trade at fair value in the near term given weak revenue and earnings momentum. “Muted” luxury sector revenue growth will likely continue into 2025, leading to margin pressure and earnings risk, the analyst tells investors in a research note.
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Read More on PPRUY:
- Kering price target lowered to EUR 265 from EUR 310 at Morgan Stanley
- Kering downgraded to Underweight from Equal Weight at Barclays
- Kering downgraded to Sector Perform from Outperform at RBC Capital
- Kering price target lowered to EUR 285 from EUR 325 at JPMorgan
- Kering price target lowered to EUR 310 from EUR 365 at Morgan Stanley
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