Prada (01913) rose more than 6% in early trading, as of the time of writing, it is up 4.9%, priced at 61 Hong Kong dollars, with a transaction volume of 40.4974 million Hong Kong dollars.
According to Zhito Finance APP, Prada (01913) rose more than 6% in early trading, as of the time of writing, it is up 4.9%, priced at 61 Hong Kong dollars, with a transaction volume of 40.4974 million Hong Kong dollars.
Bank of America Securities published a research report stating that the group can continue to outperform the luxury goods industry while establishing Miu Miu's position as a major brand in the industry, seizing its peak brand popularity to drive sustainable growth. The firm believes that based on past successful cases of fashion-led brand transformations, the market has underestimated Miu Miu's significant incremental profit potential.
UBS Group released a research report stating that Prada's strong growth mainly comes from product innovation and brand appeal, and the brand is expected to become the fastest-growing listed luxury goods brand this year, with an annual organic sales growth of up to 16%. Despite uncertainties in the industry next year, Prada's sales growth may only be about 1%. UBS Group remains bullish on its performance through product pricing and portfolio adjustments. The firm anticipates that the company's fundamentals have the potential to be reassessed, reiterating a 'buy' rating and raising the target price from 74 Hong Kong dollars to 77 Hong Kong dollars.