Moncler: the title rises, HSBC underlines the valuation


(CercleFinance.com) – Moncler posted one of the biggest rises in the FTSE MIB on Monday on the Milan Stock Exchange after HSBC’s recommendation was raised, the British bank having switched to buying the Italian manufacturer of luxury down jackets .

The stock of the designer of high-end winter clothing gained 0.2% as the benchmark Milan stock market index fell more than 1%.

HSBC raised its advice from ‘hold’ to ‘buy’ with a price target maintained at 53 euros.

‘Although investors are worried about developments in Western markets as high inflation and volatility in China could hurt second-half results, we think the current valuation looks attractive for a stock. ‘Such quality with such brilliant medium-term prospects’, explains the British bank.

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