Kering stock, CAC 40 laggard, tests its support at €228
The stock of the luxury group chaired by François-Henri Pinault is losing ground on Wednesday, contrary to a nearly stable Paris index. Two price target revisions dated yesterday and the day before are weighing on sentiment, while the technical configuration remains under pressure.
Kering laggard on the CAC 40 with a decline that extends a difficult month
Kering is down 1.55% in trading at €228.40, while the CAC 40 is up 0.15% and the SBF 120 is up 0.14%. The luxury group holds the last place on the Paris index, well ahead of other declining values. This new decline brings the monthly decline to more than 10% and the three-month decline to nearly 14%.
The stock is testing its support level at €228.65, which it is approaching to the cent in trading. Below the 20-day MA at €241.73 (gap of 5.51%), the 50-day MA at €255.56 (gap of 10.63%) and the 200-day MA at €263.02 (gap of 13.16%), the technical structure remains deteriorated across all timeframes. The RSI at 40 is in neutral territory but oriented downward, consistent with the downward dynamics of recent weeks.
Two recent price target revisions are weighing on the value, interim results in the background
RBC Capital lowered its price target from €350 to €280 on September 22, maintaining a "sector perform" rating. Oddo BHF, for its part, slightly raised its own from €255 to €272 on September 21, with a "neutral" rating. Analyst consensus remains cautious, with price targets leaving little room relative to the current price, or even signaling further downside potential in the case of RBC. These revisions come in a difficult fundamental context: upon the publication of first-half 2026 results on July 29, the group reported a 5% decline on a comparable basis for Gucci and a 60% drop in net profit attributable to the group at €189 million, with non-recurring charges of €223 million.
Conversely, the Kering Jewelry division had posted 20% comparable growth and the sale of Kering Beauty reduced net debt by €4.7 billion. On the basis of expected earnings per share, the stock is trading at approximately 23 times earnings for the following fiscal year according to the consensus of surveyed analysts. The support level at €228.65 is now the level to monitor for the near-term trend.