UBS downgraded Kering to Neutral from Buy with a price target of EUR 300, down from EUR 410. The longer time it may take for Gucci to see an inflection point, the necessary investments and Kering’s weaker balance sheet position could continue to weigh on the shares, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PPRUY:
Questions or Comments about the article? Write to editor@tipranks.com