JPMorgan initiated coverage of Ermenegildo Zegna (ZGN) with an Overweight rating and $11 price target The firm views the company as strongly positioned in the very high-end ready-to-wear segment. Zegna has competitive advantages view its exclusivity and direct access to supply that should continue to bring growth opportunities, the analyst tells investors in a research note. JPMorgan expects double-digit earnings growth over the next three years.
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