Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Barclays has upgraded Moncler SpA (BIT:MONC) stock rating from Equalweight to Overweight, while raising its price target to EUR61.00 from EUR55.00.
The upgrade comes as Barclays believes Moncler has not benefited as much as its peers from the recent sector rebound, creating an opportunity for the luxury outerwear brand to catch up. The firm expects Moncler to achieve sequential growth in Q4 compared to Q3, despite facing tough comparisons.
Barclays notes that Moncler has a strong track record of execution in the fourth quarter, consistently beating consensus estimates in recent years. The firm also points to supportive engagement metrics such as Google Trends quarter-to-date, suggesting another potential Q4 beat could serve as a positive catalyst for the shares.
The analysis highlights Moncler’s space growth potential, particularly in the United States, which could drive approximately 4-5% growth in the coming years. In China, Barclays believes Moncler may be less exposed to structural market changes than initially feared, with the growing Chinese interest in outdoor activities potentially benefiting the brand more than other luxury competitors.
From a valuation perspective, Barclays points out that Moncler is trading at a 5% discount to its 10-year average price-to-earnings ratio, making it one of the few luxury names still trading below its historical average.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.