Ferragamo shares jump after Exane BNP double upgrades to 'outperform'

Salvatore Ferragamo

05/11/2025 11:57

** Shares in Ferragamo SFER.MI jump around 7% after Exane BNP Paribas double upgrades its rating on the Italian luxury group to "outperform" from "underperform" and more than doubles its PT

** The brokerage says it is now gaining confidence in Ferragamo's margins rebuilding in 2026, after the EBIT margin turned positive in Q3

** Citing improvements in retail store productivity, conversion rates and full-price stores outperforming outlets, Exane expects the stock to outperform peers in Q4

** It also sees FY 2026-27 EBIT 20-30% above consensus

** "Shares are up 40% over the last 3 months but evidence from other turnaround stories in Luxury (Burberry, Kering) tell us there's more to go," it adds

** It hikes its PT by 127% to 10 euros

** Analysts median PT on the stock is 6 euros, and has risen 20% in the last 30 days - LSEG data

 (Reporting by Mirko Miorelli)

 ((Mirko.miorelli@thomsonreuters.com))