Kering: Stifel raises target price

(CercleFinance.com) - Stifel maintains its 'Hold' recommendation on the stock, but raises its target price for it to E270 (from E255) following the announcement of FY 21024 results.


We have reduced our EBIT forecasts for FY 2025-2026 for Kering by 8%-9%. Thanks to cost savings, we anticipate stable recurring EBIT of E2.6bn for FY 2026, it says.

We are now modeling an organic decline of 1% for fiscal 2025, with growth heavily influenced by the second half and performance held back by another year of transition for Gucci' stresses Stifel in its analysis of the day.

The next potential catalyst for the stock is the announcement of Gucci's new Creative Director. The impact on sales of a new designer will probably take several quarters to become visible, but his announcement could rekindle investors' hopes for better days for Gucci in 2026, the analyst says.


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