Citi: Cuts Prada (01913.HK) target price to HK$39.9, lowers sales and earnings forecasts.

Zhito Finance APP has learned that Citi issued a research report maintaining a "Neutral" rating on Prada (01913.HK) and lowering its target price from HK$41.5 to HK$39.9. The bank lowered its group net sales forecasts for each year from 2026 to 2028 by about 1%, reflecting more cautious assumptions for Prada and Miu Miu's constant-currency growth in the second half, due to weaker foot traffic in China and other parts of Asia, continued disruptions in the Middle East, and higher comparison bases in the United States and South Korea. The bank therefore lowered its EBIT and earnings per share forecasts for 2026 to 2028 by about 3%.