(Boursier.com) — Kering rose 0.2% to 606 euros on Monday, while the broker Jefferies adjusted its target price to 695 euros against 800 euros previously. Among other analyst opinions, Citigroup had already adjusted its target on Kering to 741 euros, against 860 euros. Bernstein had for his part cut his target from 881 to 748 euros, while remaining to ‘outperform’ and HSBC had reduced its target from 900 to 770 euros with a notice to ‘buy’. In Q4 2021, the group recorded organic growth of 31.9% with revenues of 5.4 billion euros. The organic growth of Gucci, the company’s flagship brand, notably reached 31.6%, where the market expected 18%, after rising only 3.8% in the third quarter due to the resurgence of the COVID-19 outbreak in Asia. Yves Saint Laurent also had an excellent quarter with growth of 47%, well above analysts’ expectations.
Kering did not give forecasts for the 2022 financial year, but said it was “perfectly positioned” to benefit from the recovery and confident in its medium and long-term growth potential… Still, the consequences of the suspension of its activities in Russia is still difficult to quantify, say analysts, while the impact on economic activity of Western retaliatory measures could exceed initial expectations…
©2022 Boursier.com