Report
Loic Morvan

KERING: 2018 probably another buoyant vintage for Kering | BUY | EUR545

KERING - BUY | EUR545(+33%)
2018 probably another buoyant vintage for Kering

FY sales to grow 26% organically, no negative surprise in Q4!
Strong profitability improvement
We remain confident for 2019
Buy recommendation reiterated
Underlyings
Arizona Gold Corp

Kerr Mines is a development stage company. Co. is engaged in the development of a mining property in Virginiatown, Ontario.

Kering SA

Kering is engaged in the retail industry, particularly luxury fashion brands. Co.'s operations can be divided into two segments: Luxury and Sport & Lifestyle divisions. The Luxury division includes brands such as Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen, Girard-Perregaux & JeanRichard, & Stella McCartney. In addition, Co. offers Leather Goods, Shoes, Ready-to-wear, Watches, and Jewelry & Other products. The Sport & Lifestyle division designs & develops footwear, apparel & accessories and includes brands like Puma, Volcom and Electric among others.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Loic Morvan

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