On Monday, Barclays (LON:BARC) adjusted its outlook on Moncler SpA (BIT:MONC), a luxury fashion brand known for its outerwear. The firm's analyst set a new price target for Moncler shares at €66.00, a slight decrease from the previous target of €68.00. Despite this change, the analyst maintained an Overweight rating on the stock.
The revision comes as Moncler is poised to release its first-half financial results on July 24th, after the market closes. Barclays anticipates that Moncler's organic growth will be around 4% for the second quarter, with the Moncler brand itself expected to see a 6% growth during the same period.
This forecast follows a robust first quarter for Moncler, although the company had indicated a return to more normalized conditions as early as April. Reflecting on these insights, the analyst has adjusted their estimates, resulting in a 2% reduction in the forecasted adjusted earnings per share (EPS) for the full year 2024.
The price target adjustment reflects these updated expectations, shifting from €68.00 to €66.00. Despite the lowered price target, Barclays' stance on Moncler remains positive, as indicated by the Overweight rating, suggesting confidence in the company's performance prospects.
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