Kering: UBS on hold, raises target price

(CercleFinance.com) - While maintaining its 'neutral' rating on Kering shares, UBS has raised its target price from E228 to E246, a TP that is largely in line with the share's last closing price, the day after the luxury group published its annual results.


Kering's 2024 results turned out to be better than expected, thanks to cost control and improving trends in the sector, the broker summarises.

Regarding its outlook, UBS also considers that short-term figures will probably be of little importance, in the context of the imminent appointment of a creative director at Gucci.


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