Goldman Sachs downgraded Kering to Sell from Neutral with an unchanged price target of EUR 235. Stimulus measures in China are unlikely to positively impact high-end discretionary spending near-term and and there is incremental downside risks to the shares post the re-rating, the analyst tells investors in a research note.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PPRUY:
- Kering price target lowered to EUR 265 from EUR 285 at JPMorgan
- Kering price target lowered to EUR 208 from EUR 210 at Barclays
- Kering downgraded to Neutral from Buy at BofA
- Kering price target lowered to EUR 265 from EUR 310 at Morgan Stanley
- Kering downgraded to Underweight from Equal Weight at Barclays