Moncler : Moncler: reservoir of growth intact
Buffeted by the pandemic crisis, the group remains a unique story in the highly competitive luxury ready-to-wear segment and still harbours significant growth potential, bolstered by the recent acquisition of Stone Island. We initiate coverage of the stock at Buy with a target price of € 56 based on a DCF calculation that takes into account a return to pre-crisis levels of activity in H2 2021 and growth that outstrips the industry average thereafter. Stone Island adds around € 1....Moncler is a jacket and sportswear production group based in Italy. Co. directly produces and distributes its own clothing and accessories collections, through its direct boutiques and exclusive department and multibrand stores. Co. branded products range from the high fashion segment with the Gamme Rouge and Gamme Bleu collections (exclusive products and selected distribution to boutiques) to the Grenoble collection (sporting and technical garments). As of Dec 31 2013, Co. operated a network of 135 stores, including 107 directly operated stores (DOS) and 28 wholesale stores (27 shop-in-shop and 1 franchise store).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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