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Investing.com - Goldman Sachs downgraded Moncler SpA (BIT:MONC) from buy to neutral on Monday, while lowering its price target to EUR57.00 from EUR62.50, citing industry-wide weak traffic challenges.
The luxury outerwear maker has outperformed its peer group by approximately 5% since Goldman’s previous upgrade, when the stock had been trading below its 10-year price-to-earnings average.
Goldman now expects Moncler brand momentum to reach its lowest point in the second quarter of 2025, forecasting retail sales to decline 4% compared to a full-year 2025 estimate of 1% growth.
The investment bank has adopted a more conservative view of Moncler’s second-half 2025 trajectory, projecting flat retail growth of 0% versus its previous forecast of 3.5% growth.
Goldman analysts believe a significant sales improvement during the key fourth-quarter seasonal period, which accounted for 46% of Moncler’s retail sales in 2024, is unlikely given tough year-over-year comparisons, particularly in Mainland China where the company posted double-digit growth in Q4 2024.
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