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Fly News Breaks for August 6, 2019
PPRUY
Aug 6, 2019 | 07:16 EDT
Bernstein analyst Luca Solca upgraded Kering to Outperform from Market Perform, with EUR540 price target. The analyst notes that Gucci woes in North American seem brand specific and a consequence of the "blackface" faux pas, and expects Gucci to be rebounding in America during the second half of 2019 as it goes back to a higher communication spend. An organic growth uptick by Gucci in the second half of the year would get the Kering share price to rebound, he contends.
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