Barclays cuts Moncler stock target, ends up overweight Investing.com
On Monday, Barclays revised its outlook Company Moncler SpA (BIT :), a luxury fashion brand known for its outerwear. The firm’s analyst set a new target price on shares of Moncler at €66.00, down slightly from their previous target of €68.00. Despite this change, the analyst maintained an Overweight rating on the stock.
The update comes as Moncler prepares to release its first-quarter financial results on July 24, after the market closes. Barclays expects Moncler organic growth to be around 4% in the second quarter, while the Moncler brand itself is expected to see 6% growth over the same period.
This forecast follows a strong first quarter for Moncler, although the company indicated a return to normal conditions in early April. Considering these details, the analyst adjusted their estimates, resulting in a 2% decrease in the adjusted adjusted earnings per share (EPS) for the full year of 2024.
The price target adjustment reflects this revised expectation, from €68.00 to €66.00. Despite the target price reduction, Barclays’ stance on Moncler remains positive, as indicated by the overweight rating, which raises confidence in the company’s performance prospects.
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