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Kering shares are showing signs of recovery, buoyed by better-than-expected results from major luxury brands. Despite a 10% year-on-year sales decline to €8.18 billion and a 67% drop in earnings per share, technical analysis indicates a potential bullish turnaround, with key resistance crossed at €270. If momentum continues, targets of €340 and €430 are in sight, although a fall below €240 would invalidate this positive outlook.
UBS has raised its price target for Kering from 228 to 246 euros while maintaining a 'neutral' rating, following the luxury group's better-than-expected annual results for 2024, attributed to effective cost control and sector improvements. The broker notes that short-term figures may hold less significance due to the upcoming appointment of a new creative director at Gucci.
UBS has raised its price target for Kering from 228 to 246 euros while maintaining a neutral rating, citing better-than-expected full-year 2024 results driven by cost control and improving industry trends. The firm notes that upcoming developments, particularly the appointment of a new creative director at Gucci, may overshadow near-term financials.
UBS has raised its price target for Kering from €228 to €246 while maintaining a 'neutral' stance, following the luxury goods group's better-than-expected annual results for 2024, attributed to effective cost control and sector improvements. The broker notes that short-term figures may be less significant due to the upcoming appointment of a new creative director at Gucci.
UBS has raised its price target for Kering from 228 to 246 euros while maintaining a 'neutral' rating, following the luxury group's better-than-expected annual results for 2024, attributed to effective cost control and sector improvements. The broker notes that upcoming short-term figures may be overshadowed by the anticipated appointment of a new creative director at Gucci.
UBS has increased its price target for Kering from 228 to 246 euros following the fourth quarter 2024 results, maintaining a "Neutral" rating. Analyst Zuzanna Pusz noted that the results were slightly better than expected amid challenges in the luxury sector, particularly with the Gucci brand, which may lead to further declines in consensus estimates.
Kering, a global luxury goods group, encompasses renowned brands such as Gucci, Saint Laurent, and Bottega Veneta, focusing on creativity and sustainability. In 2023, the company employed nearly 49,000 people and achieved sales of €19.6 billion, operating 1,771 stores worldwide, with significant presence in Western Europe and Asia-Pacific.
UBS has maintained a 'Neutral' rating for Kering, setting a price target of 228 euros following the company's fourth quarter 2024 results, which slightly exceeded expectations. Analyst Zuzanna Pusz noted that the market's focus remains on the uncertainty surrounding the Gucci brand. Kering, a global luxury group, reported revenues of EUR 19.6 billion in 2023 and employed nearly 49,000 people, with a significant retail presence across Western Europe, North America, and Asia.
US President Trump has imposed a 25% tariff on steel and aluminum imports, prompting countermeasures from the EU. While the currency market showed little reaction, gold prices surged amid rising fears of financial turmoil. Asian markets remained cautious, with expectations of a trade agreement between the US and China still high.
UBS has maintained a "Neutral" rating for Kering, setting a target price of 228 euros, following the luxury group's agreement with Ardian regarding three high-end properties in Paris. This move is part of Kering's strategy to offload recent real estate investments amid a challenging financial landscape, which analysts expect will be viewed positively by the market.
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