Kering's Stock Climbs 2.5%, Marking One of the Top Gains in the CAC 40

A Rebound That Elevates Kering to the Forefront of the CAC 40

Kering's stock increases by 2.38% to €255.65 at midday, up from €249.70 at the previous close, while the CAC 40 is up by 0.45% at 8,518 points. The stock is among the highest risers in the Parisian index, following the likes of Pernod Ricard, Carrefour, and L'Oréal, in a session where consumption and luxury sectors boost the market. This rebound comes after a turbulent period marked at the end of June by a 5.5% drop, making it the worst performer in a rebounding CAC 40, resulting in a weekly performance still at -3.76%. However, the sector backdrop remains challenging, with Chinese jewelry sales down 8.9% year-on-year in May and Chinese retail sales slightly declining (-0.6% year-on-year), an environment to which luxury stocks are particularly sensitive.

BM Pekao Upgrades Rating to Hold, with a Target Raised to €288.67

On July 6, BM Pekao upgraded its rating on the stock from sell to hold and raised its price target from €270.42 to €288.67, representing an implicit potential of about 13% from the current price. In terms of indicators, the stock has moved above its MM50 (€250.18, a gap of +2.19%) but remains below its MM20 (€260.99, a gap of -2.05%) and its MM200 (€276.26, a gap of -7.46%), the latter having several times acted as a ceiling since spring. The RSI at 45 indicates a neutral configuration, without significant buying pressure. The valuation remains tight: according to the consensus of analysts surveyed, the stock is trading at about 39 times the earnings expected for the current fiscal year and 26 times those for the next fiscal year. The resistance identified at €276.55, in the zone of the MM200, remains the next technical milestone to cross to extend the recovery movement that began in early June.