Barclays downgraded Kering to Underweight from Equal Weight with a price target of EUR 210, down from EUR 276. The firm is more cautious on the luxury sector following a recent trip to China, saying weakness in the nation looks structural and not just cyclical. The environment is “very polarized” and brands under transition are most at risk, the analyst tells investors in a research note.
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Read More on PPRUY:
- 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
- Kering downgraded to Neutral from Buy at UBS
- Kering: 2H24 recurring operating income could be down 30% vs. 2H23
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