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Analysts Conflicted on These Consumer Cyclical Names: Prada SpA (OtherPRDSF), Ford Motor (F) and Domino's Pizza (DPZ)
Bank Rating | Jefferies: Raising Prada's Target Price to HK$64 to Maintain “Hold” Rating
Jefferies published a research report. Prada's strong performance in the first quarter shows that in the face of unstable demand in the luxury goods industry, the difference in performance between winners and laggards is getting bigger. The group's brand Miu Miu continues to drive growth. Investors are expected to be happy that the strong growth trend will continue into the second quarter. However, Jefferies cautioned that it is currently unclear whether Prada's strong performance represents the latest developments in a wider range of industries. The company maintains a “holding” rating. The target price was raised from HK$58 to HK$64.
Big Bank Ratings | Damo: Raising Prada's target price to 67 Hong Kong heads of state's quarterly performance is positive
Glonghui, April 26 | Morgan Stanley published a report. Due to Prada's positive performance, the target price was raised from HK$65 to HK$67, and the rating “increased”. According to the bank, the Group's organic year-on-year growth rate in the first quarter was 16.5%, higher than market expectations of 13.7%. First-quarter revenue was also 2.3% higher than market expectations. The increase in performance was mainly due to the strong performance of its Miu Miu subsidiary. Management said during the conference call that the 2025 store opening plan includes Miu Miu's net increase of 10 to 15 stores and Prada's net increase of 5 to 10 stores.
CICC: Maintaining Prada's (01913.HK) “Outperform the Industry” rating target price and raising the target price to HK$75
CICC released a research report stating that maintaining the Prada (01913.HK) “outperforming the industry” rating, based on the continued strong momentum of the Prada and Miu Miu brands, raised the 2024 and 2025 revenue forecasts by 3% to 5.196 billion euros and 5.616 billion euros, and raised the 2024 and 2025 net profit forecasts 7% and 6% to 757 million euros and 867 million euros based on the faster growth rate of the leather goods sector with impressive profit margins. The company announced the 1Q24 revenue update: Group revenue increased +16% year-on-year at a fixed exchange rate, financial report disclosed
Prada (01913.HK): Q24 revenue growth accelerates and the Asia-Pacific region remains strong
Company news: Prada Group (1913.HK) announced 1Q24 revenue update: Group revenue increased +16% year over year under fixed exchange rate and +12% year over year to 1.19 billion euros under financial disclosure standards, surpassing Bloomberg
Jefferies Adjusts Prada's Price Target to HK$64 From HK$58, Keeps at Hold
04:58 AM EDT, 04/25/2024 (MT Newswires) -- Jefferies Adjusts Prada's Price Target to HK$64 From HK$58, Keeps at Hold Price (HKD): $61.65, Change: $+0.55, Percent Change: +0.90%
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