Goldman Sachs looks for luxury brands exposed to China recovery, ups Moncler and Prada

Prada SpA

06/12/2024 08:53

** Goldman Sachs upgrades Italian luxury brand Moncler
 MONC.MI  and Hong Kong-listed Prada  1913.HK  to "buy" from
"neutral" as it prefers China-resilient brands
    ** "Key debate for the sector remains the timing and shape
of a recovery in China", GS says
    ** It prefers "brands which have outperformed across the
Chinese cluster in 2023-24, and which we see are well-positioned
for the recovery, albeit in the second half of 2025"
    ** GS points to Moncler, LVMH  LVMH.PA  and Prada as "brands
capable of market share expansion at an attractive valuation"
    ** Frankfurt-listed shares in Prada  1913.F  rise 5.7%,
while those in Moncler are up 3.8%

 (Reporting by Romolo Tosiani)
 ((Romolo.Tosiani@tr.com))