(CercleFinance.com) – RBC reiterated on Monday its ‘outperform’ opinion and its price target of 665 euros on Kering following Gucci’s spring/summer 2024 show which was held this weekend in Milan.
In a research note, the broker points out that the collection has been named ‘Gucci Ancora’, which can be translated as ‘again’, with the aim of opening a new chapter for the Italian brand.
RBC evokes a style inspired by Italian urban fashion, easy to wear and contemporary, an approach tending to stand out from the directions previously taken by Alessandro Michele.
From the analyst’s point of view, this approach, considered low risk, could allow Gucci to better position itself in the quarters and months to come.
As for Kering’s next quarterly publication, scheduled for October 20, the intermediary expects the luxury group’s figures to disappoint given the current slowdown.
Despite everything, Kering remains its best investment idea within the luxury sector, both because of its valuation and the recovery potential displayed by Gucci.
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