Bernstein Ups Kering Price Target, Slashes Estimates Ahead of Strategic Update

04:32 AM EST, 01/05/2026 (MT Newswires) -- Kering's (KER.PA) management is expected to lay out a "more deliberate" approach for the turnaround of its core brands in a strategic update in spring 2026, Bernstein said as it raised the French luxury goods company's price target. Reiterating the underperform rating, the price target was increased to 250 euros from 240 euros on Monday. The research firm also lowered its assumptions for Kering's net sales and EPS by 2% and 6.2%, respectively, for 2025 and by 2.3% and 14.6% for 2026. The downward revisions were attributed to the sale of Kering Beauté, "likely" foreign exchange headwinds, and the expectation that Kering will not divest smaller brands such as McQueen and Brioni. "Short Kering / Long Prada seems a reasonable stance going into FY26E, while monitoring Gucci's potential performance and Versace's strategic communication as possible catalysts," analysts wrote.