Ferragamo: Stifel still on Hold after Q4 results

(CercleFinance.com) - The analyst points out that Ferragamo reported overall organic growth of -4% in Q4 2024 (vs.
consensus of -5% and -7% in Q3 2024), with a sequential improvement. Following this publication, Stifel has reiterated its 'Hold' recommendation on the stock, with an unchanged TP of E7.

The group benefited from organic growth in retail sales (+1% in Q4 2024 vs. consensus -6%), returning to positive territory and partly offsetting the effects of lower energy prices and the still very weak trends in wholesale, analysts say.

January saw an acceleration in organic retail sales growth, supported by the Chinese New Year and an easy comparison basis, Stifel adds.

Although it is still too early to assess the sustainability of retail trends, the unexpected inflection of organic growth in Q4 was very positive.


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