TD Cowen analyst Oliver Chen has maintained their neutral stance on 0IIH stock, giving a Hold rating on October 9.
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Oliver Chen’s rating is based on several factors influencing Kering SA’s current market position. The company’s stock has seen a significant increase in valuation, rising by 49% since the first half of 2025, which is considerably higher than its peers. This elevated valuation, trading at a forward P/E ratio of approximately 37 times compared to a three-year average of 17 times, suggests that expectations are high going into the earnings report.
Additionally, while there are positive developments such as increased store foot traffic and cultural relevance from recent product launches, there are concerns about the need for store renovations and potential compression of Gucci’s EBIT margin. The outlook for Gucci, which constitutes a significant portion of Kering’s sales, remains uncertain with projected sales declines. These factors, combined with the need for continued investment in advertising and promotion, contribute to the Hold rating as the company navigates these challenges.
In another report released on October 9, Deutsche Bank also maintained a Hold rating on the stock with a €290.00 price target.