UBS upgrades Kering to "Buy" following annual earnings report.

In a recent analysis, the Swiss bank UBS has re-evaluated the French luxury goods manufacturer Kering positively. After a thorough review of the latest business figures, the bank has upgraded the company from "Neutral" to "Buy." In addition, the bank has set an increased target price, which has been adjusted from 413 euros to a significant 480 euros. The expert assessment by analyst Zuzanna Pusz reflects an optimistic outlook. Her report emphasizes that Kering has successfully navigated the bulk of challenges and, in particular, the subsidiary brand Gucci has experienced a significant strengthening of its market position. This statement is based on the assumption that the year 2024 could mark a turning point concerning the profitability of the group. Pusz points out that countercyclical investments could help initiate a positive reversal of the trend. This strategy may aim to invest during times of economic downturns in order to emerge stronger from these phases. This form of investment reflects a certain degree of confidence in the long-term growth potential and resilience of the company.