Kering: Oddo BHF slightly raises its target

(CercleFinance.com) - While reiterating its 'neutral' opinion on Kering, Oddo BHF has slightly raised its price target from €238 to €245 'to take into account in its DCF valuation more visible prospects for improving the financial structure, which are reassuring'.


According to the research firm, the luxury group has managed the sharp fall in activity in 2024 relatively well, and has embarked on a sustained deleveraging trajectory by reducing the weight of its recently acquired real estate assets.

Nevertheless, he is not convinced at this stage that Gucci can recover simply by continuing the efforts undertaken to date, and he fears that the choice of a designer within this very well-defined framework will not enable a stylistic breakthrough providing a real amplification effect.

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