Prada price target raised to HK$69 from HK$67 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Prada (PRDSY) to HK$69 from HK$67 and keeps an Overweight rating on the shares. The firm continues to expect Prada to outperform the market, although still mostly a function of Miu Miu’s stellar performance. The analyst noted that the new price target reflects the firm’s improved topline expectation, adding that for the foreseeable future the firm continues to believe that the group’s growth will be driven by like-for-like.