The Wall Street bank said one of its luxury favorites looks particularly cheap, despite a 45% gain in its share price this year.
Bank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. The MSCI Europe luxury index has fallen 16% from its most recent high on Apr. 24 as evidence emerges of slowing demand in the third quarter. The investment bank expects profit margins to decline by one percentage point for the sector even as third-quarter revenue is seen growing modestly. Bank of America made seven rating changes in the sector.
However, Wallace also cautioned investors to wait before buying the dip. "The sector is cheap, however in the absence of positive China macro/stimulus it's unclear what will drive a re-rating in the near term," she added. Pandora Wallace lifted her price target to 900 Danish krone from 720 krone, giving the stock 27% upside potential over the next 12 months.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Buy this luxury stock with more than 20% upside, Bank of America saysThis recently underperforming stock has an impressive growth story within the luxury sector, according to Bank of America.
続きを読む »
One of America's favorite comfort foods to be celebrated at festival in AvonMacaroni and cheese is a comfort food with endless recipes. The Ohio Mac & Cheese Festival takes place at Mercy Health Stadium in Avon on Sept. 30.
続きを読む »
The 2024 Kia Forte Is One Of The Most Affordable Cars In America, Starts Under $20,000The 2024 Forte largely carries over, but it starts at $19,790 and offers an available turbocharged engine with 201 hp
続きを読む »
Democrats’ plan of transitioning America to a one-party stateThe Democratic Party has lost interest in America as a nation.
続きを読む »
One Kosovo police officer killed and one wounded, raising tensions with SerbiaKosovo's prime minister on Sunday said one police officer was killed and another wounded in an attack he blamed on support from neighboring Serbia, increasing tensions between the two former war foes.
続きを読む »