Kering upgraded to Buy from Underperform at BofA

BofA double upgraded Kering to Buy from Underperform with a price target of EUR 450, up from EUR 350. The analyst says “green shoots” from Gucci’s re-engagement with trendsetters may be evident from the second half of 2024. Gucci should start to see the brand heat improvement eventually convert into stronger revenue, the analyst tells investors in a research note.