Macquarie: Prada (01913.HK) target price lowered to 60 Hong Kong dollars, rating "outperform the market"

Wisdom Financial APP learned that Morgan Stanley released a research report stating that Prada's (01913.HK) first half sales increased by 9% year-on-year when calculated at a fixed exchange rate, roughly in line with the bank's forecast. Due to the non-recurring costs related to the acquisition of Versace, net profit increased by 0.6% year-on-year, which was 7% lower than the bank's forecast. The bank has lowered its net profit forecast for Prada for the years 2025 to 2027 by 7.6%, 7.1%, and 6.6% to account for the first half performance and brand investment. The target price has been lowered by 8% from 65 Hong Kong dollars to 60 Hong Kong dollars, with a rating of outperforming the market.