Deutsche Bank lowered the firm’s price target on Ermenegildo Zegna (ZGN) to $9 from $11.50 and keeps a Buy rating on the shares. The firm says it is no longer clear that Q3 of 2024 “was the nadir” for luxury demand. The luxury recovery in Q4 “now looks likely to be the anomaly and not the trend,” the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZGN:
- Balanced Outlook: Zegna’s Strong Performance and Strategic Challenges Justify Hold Rating
- Ermenegildo Zegna price target lowered to $9 from $10.50 at UBS
- Ermenegildo Zegna Group Reports 2024 Financial Results
- Ermenegildo Zegna Reports 2024 Financial Results Amid Strategic Investments
- Ermenegildo Zegna Files Annual Report for 2024
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue