TD Cowen downgraded Kering to Hold from Buy with a EUR 360 price target. The analyst sees risk that the Gucci transition could lead to lower than expected earnings in the near term. The firm sees risk to the Street’s second half of 2024 estimates if the new product uptake does not go as expected and further tweaks are needed to the Ancora collection.
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- Kering downgraded to Sell from Underperform at CLSA
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- Kering price target lowered to EUR 460 from EUR 540 at Deutsche Bank
- Kering price target lowered to EUR 350 from EUR 400 at JPMorgan
