(CercleFinance.com) – Invest Securities reiterates its ‘neutral’ recommendation on Kering with a price target reduced from 588 to 524 euros, questioning the performance of Gucci, the luxury group’s emblematic brand, in the third quarter of 2022.
The analyst believes that the conditions of low visibility which surround the chaotic evolution of the financial markets, oppose a change of recommendation ‘in a context of evolution of the adverse cost of capital and a sectoral momentum close to a decline’.
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