CICC Cuts PRADA TP to HKD65, Expects Revenue Growth to Accelerate
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CICC has cut its target price for PRADAby 13.3% to HKD65, while maintaining an Outperform rating. The broker expects PRADA's revenue growth to accelerate, driven by new store openings and market share gains, despite a projected decline during the Versace brand transition. PRADA's 1Q revenue was EUR1.428 billion, with a 3% YoY growth. However, revenue forecasts for 2026 and 2027 have been lowered by 2% due to the impact of the Middle East conflict, affecting net profit estimates as well.
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