RBC Capital analyst Piral Dadhania downgraded Kering to Sector Perform from Outperform with a price target of EUR 290, down from EUR 310. The firm believes the luxury environment is incrementally softening, which is likely to have an outsized impact on Gucci, given it is “currently straddling old and new product mix.”
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Read More on PPRUY:
- 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
- Kering downgraded to Neutral from Buy at UBS
- Kering: 2H24 recurring operating income could be down 30% vs. 2H23
- Kering reports Q1 revenue EUR 4.5B vs. EUR 5.06B last year
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