Laggard of the CAC 40, Kering shares fall 2.5% following TD Cowen downgrade
The luxury group that owns Gucci and Saint Laurent is closing the ranks of the Paris index, which is nonetheless posting a slight gain. A target price cut from an American brokerage accompanies a stock already weakened for several weeks.
A TD Cowen target price reduction and a stock far from its moving averages
Kering falls 2.6% to €207.55 during the session, the last value in the CAC 40 while the index gains 0.26%. The stock has lost 13% over one month and nearly 33% over one year. The pressure is clear on moving averages: the price is 6.8% below the 20-day MA and 19.3% below the 200-day MA. The support at €206.55, very close by, is the level the stock is approaching today.
On the analyst ratings side, TD Cowen lowered its price target today from €280 to €235. The day before, SBG Securities posted a target of €233 with a buy rating. These two targets remain above the current price by approximately 13%.
Vaccarello's departure and a half-year marked by Gucci's decline
Continuing these difficult sessions, Kering announced on October 9 the departure of Anthony Vaccarello from the creative direction of Saint Laurent, which he has been guiding since 2016. This departure comes after a first half in which Gucci's revenue declined 5% on a comparable basis, published on July 29, 2026, and during which the group's net profit fell 60% to €189 million. The group nevertheless reduced its net debt by €4.7 billion through the sale of Kering Beauty. Management comments reported by the press in early October mentioned a difficult end of summer for luxury, which concerns the third quarter of 2026. The RSI at 35 remains close to the oversold zone, without reaching it.
