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Prada (HKG:1913) Shareholders Will Want The ROCE Trajectory To Continue
Macquarie: Maintains PRADA (01913) "Outperform" rating, Target Price raised to HKD 86.
Macquarie raised its net income forecast for PRADA (01913) for the years 2024 to 2026 by 0.7%, 0.7%, and 3.5%, respectively.
Hong Kong stock Concept tracking | Richemont Group's sales surge boosts Luxury Goods stocks, Institutions optimistic about the prospects of Luxury Goods in mainland China before the second half of 2025 (with Concept stocks attached).
Institutions: It is expected that this year's Luxury Goods market performance in mainland China will be on par with last year, with a mild recovery anticipated in the future.
Major ratings｜Macquarie: Upgraded PRADA's Target Price to HKD 86, Miu Miu still has ample room for growth.
Macquarie published a research report, expecting PRADA's revenue in the fourth quarter of last year to increase by 15% year-on-year, mainly supported by the strong performance of Miu Miu and PRADA's resilient performance in various regions. The firm anticipates the company's operating profit in the second half of last year to grow by 20% year-on-year, mainly due to operational leverage and a favorable brand mix. The firm believes that Miu Miu still has ample growth potential, noting that the brand had only 139 stores globally by the end of the first half of last year, far fewer than PRADA's 417 stores. Macquarie raised its net income forecast for the company for 2024 to 2026 by 0.7%, 0.
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