Kering stock breaks through its 241 € support level and loses 17.5% over one month

HSBC lowers its target but maintains buy rating, Rothschild & Co Redburn moves to sell

Two analyst positions marked the session. HSBC, whose analyst consensus remains at buy, revised its price target downward this Wednesday, bringing it from 340 € to 305 €. At the current price of 236.45 €, this target still represents an upside potential of approximately 29 %.

Rothschild & Co Redburn for its part took an additional step on Monday, September 7 by moving from a neutral to sell rating, with a target brought down to 225.76 €, slightly below the current price. These downward revisions come in line with the first half 2026 results, published on July 29, which revealed a decline in Gucci's revenue of 5% on a comparable basis and a 60% drop in net income attributable to the group to 189 million euros. According to the consensus of analysts surveyed, the stock trades at approximately 37 times expected earnings this year and 23.7 times those of the following fiscal year, a valuation that still reflects a luxury premium in a deteriorated fundamental context.

A monthly decline of 17.5% crushes the three moving averages while the RSI at 41 remains under pressure

Kering loses 3.25% during the session at 236.45 €, trading well below its three moving averages: the 20-day MA at 255.78 €, the 50-day MA at 258.25 € and the 200-day MA at 266.08 €, a gap of more than 11% below the latter. The monthly decline reaches 17.5%, in a sector context with weak momentum: Swiss watch exports to China are down 18.5% year-over-year, while jewelry sales in China declined 10.1% year-over-year in July 2026. The RSI at 41 remains in bearish territory without reaching the oversold zone, indicating that selling pressure has not yet been exhausted.

The support level identified at 241.40 € has been broken, with the stock now trading significantly below it, with no immediate resistance before approximately 255 € represented by the 20-day MA. Over the week, the decline stands at 4.35%, in a CAC 40 that is down 1.83% during the session.