Kering: the title advances, Bernstein sees potential – 08/15/2022 at 14:27


(CercleFinance.com) – The Kering share is moving against the tide of the CAC 40 index on Monday the Paris Stock Exchange, supported by a note from Bernstein which raises its price target on the giant of the luxury industry.

At 2:15 p.m., the title nibbles 0.2%, unlike the CAC which yields 0.2% at the same time.

In a study devoted to luxury, Bernstein indicates that he has revised upwards his earnings forecasts for the main players in the sector after a first half that he considers particularly successful.

In this context, the intermediary indicates that it has raised its target price on Kering from 645 to 689 euros, while maintaining its ‘outperformance’ opinion on the title.

‘The Arlesian who surrounds the coming recovery of the Gucci brand is facilitated by the solid performances recorded by the other divisions of the group’, underlines the intermediary.

More generally, Bernstein notes that the ‘YOLO’ (‘you only live once’) philosophy that characterizes today’s high-end consumer has led to a background that has benefited the luxury sector.

If he expects a normalization of this effect, the analyst says he forecasts a “gradual” slowdown process, which will depend a lot – according to him – on the evolution of the Chinese market and the consequences of the Covid epidemic. .



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