French Analyst Ratings: Kering, Legrand and Sodexo in the Spotlight
A handful of rating changes to start the week, notably affecting several CAC 40 constituents (Kering, Legrand, Publicis, Pernod Ricard, Michelin and Stellantis).
Biomérieux: RBC Capital maintains its sector perform rating and cuts the price target from EUR 115 to EUR 100.
Kering: Morgan Stanley downgrades from overweight to equal-weight with a price target reduced from EUR 330 to EUR 320.
Klépierre: UBS maintains its sell rating and raises the price target from EUR 29 to EUR 30.
Legrand: Barclays downgrades from overweight to equal-weight with a price target reduced from EUR 175 to EUR 144.
Michelin: Morgan Stanley remains at equal-weight with a price target reduced from EUR 30 to EUR 28.
Nexans: Barclays maintains its overweight rating and cuts the price target from EUR 157 to EUR 154.
Pernod Ricard: Jefferies maintains its buy rating and reduces the price target from EUR 100 to EUR 95.
Publicis Groupe: JP Morgan remains at overweight with a price target raised from EUR 130 to EUR 131.
Rémy Cointreau: Jefferies remains at accumulate with a price target reduced from EUR 50 to EUR 48.
Sodexo: AlphaValue/Baader Europe downgrades from accumulate to reduce with a price target cut from EUR 54.30 to EUR 43.40. Jefferies maintains its buy rating and reduces the price target from EUR 55 to EUR 50.
Stellantis: Evercore ISI remains at in-line with a price target raised from EUR 7.50 to EUR 8.
TF1: JP Morgan remains at overweight with a price target reduced from EUR 9.90 to EUR 9.60.
Tikehau Capital: Goldman Sachs maintains its neutral rating and raises the price target from EUR 20.40 to EUR 20.50.
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté.
By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow's Luxury in a sustainable and responsible way. It captures these beliefs in its signature: Empowering Imagination.
In 2025, Kering had 43,731 employees and restated revenue of EUR 14.7 billion.
At the end of 2025, the Group had a network of 1,719 stores under its own management, located primarily in Western Europe (361), Japan (225), Asia-Pacific (666) and North America (308).
Net sales are distributed geographically as follows: France (5.6%), Western Europe (24.5%), Japan (7.9%), Asia/Pacific (28.6%), North America (24.2%) and other (9.2%).
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ESG MSCI
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