UBS believes that Gucci is showing further signs of improvement. Ahead of its Q3 results, the analyst maintains his neutral rating on the stock, while raising his target price to €251 (from €215).
UBS said that Q3 results could show further signs of a turnaround at Gucci, which is why we are revising our estimates upwards, bringing us back in line with the consensus for fiscal year 2025.
Kering's H1 results showed early signs of stabilization at Gucci and cost control, the analyst said, who is not lowering his estimates for the group for the first time in quite a while.
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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