Ermenegildo Zegna price target lowered to $9 from $10.50 at UBS

UBS lowered the firm’s price target on Ermenegildo Zegna (ZGN) to $9 from $10.50 and keeps a Neutral rating on the shares as part of a Q1 preview. The firm expects the Zegna brand and western consumers to outperform Thom Browne and the Chinese cluster. Zegna is taking the right initiatives to realize the full potential of its three brands in order to create long-term value, but it will take time for tangible results to show in the numbers, the analyst tells investors in a research note.