Kering Shares Plunge 5.5%, the Biggest Loser in a Rebounding CAC 40
Mid-session, the stock of Gucci's owner sharply drops, despite an overall uptrend in the CAC 40. This movement follows a repositioning by analysts and erases several weeks of recovery that had been carefully built since early May. The stock closes the Parisian luxury compartment, where LVMH and Hermès also suffer losses.
A Sharp Fall Propels Kering to the Bottom of the CAC 40 at €251.45
Kering's stock plummets 5.35% to €251.45 mid-session, marking the lowest point of the CAC 40 while the Paris index gains 0.22% at 8,385 points. The decline is part of a pressured luxury sector, with LVMH losing 1.83% and Hermès 1.33%, but the extent of the drop distinctly isolates the owner of Gucci. The stock thus erases the rebound built since early May and shows a weekly drop of 5.51%, falling below its 20-day moving average (€261.05) after having reclaimed it in mid-June.
However, the price still holds a cushion over its MM50 at €249.44, which now serves as the first technical buffer before the support at €240.95. The RSI at 56 remains neutral, not indicating any seller exhaustion at this stage. Amid a slowdown in luxury consumption in China (NBS jewelry/gold sales down 8.9% year-on-year in May), the stock remains penalized by its exposure to the Chinese market, where dynamics continue to be unfavorable for the group.
Oddo BHF Lowers Target to €272, HSBC Raises Its to €290
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The decline follows a dual movement of contrasting analyst opinions. Oddo BHF has lowered its price target from €290 to €272, while shifting to neutral, representing an implicit upside potential of about 8% from the current price. HSBC, on the other hand, has raised its target from €280 to €290, maintaining a hold opinion, which opens up a potential of 15%. This divergence reflects the ongoing debate on the valuation of the stock, which is trading at approximately 38.7 times the earnings of the current fiscal year and 25.6 times those of the next, according to the consensus of analysts surveyed.
The previous session's attack on the €276 mark had already failed on June 19, as Kering's stock then retreated by 2.5% on a failed bullish breakout. The MM200 at €276.65 remains 9.11% above the price, a medium-term technical ceiling unchanged for months. The behavior of the stock around the support at €240.95 will be the next observable benchmark.
À mesure que Kering progresse dans l'exercice 2026, son objectif demeure de renouer avec la croissance et d'améliorer sa profitabilité
Risks mentioned
Recul du chiffre d'affaires de Gucci de 5 % en comparable au premier semestre
Charges opérationnelles non courantes de 223 millions d'euros (cessions, dépréciations, restructurations)
Résultat net part du Groupe en baisse de 60 % à 189 millions d'euros
Opportunities identified
Endettement net réduit de 4,7 milliards d'euros grâce à la cession de Kering Beauté
Contrat de licence beauté Gucci-L'Oréal exclusif sur 50 ans à compter de mi-2027
Kering Jewelry +20 % en comparable, marge courante en hausse de 2,7 points
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
