Kering SA

KER: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€187.00	Whnnhy	Wznknrx

Kering Earnings: Profits Plummet as Industry Slowdown Compounds Weak Brand Momentum; Shares Cheap

Jelena Sokolova

Jul 25, 2024

We are reducing our fair value estimate for narrow-moat Kering to EUR 448 per share to factor in worse expectations for the second half of the year as the company grapples with an industry downturn and weak brand momentum. We still believe that shares offer meaningful upside at current levels for patient investors, trading in 5-star territory.

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