Opinions
Jamie Murray 
Kering
PPRUY-OTC
TOP PICK
Feb 25, 2025
$28.390
Stock price when the opinion was issued
clothing stores
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TOP PICK
The Asian middle class is driving all of this and those numbers are still mushrooming. GUCCI is the fastest growing of all the major brands and is 60% of KER-EPA. It is trading at a much cheaper multiple than other companies with better growth going forward. He expects 35% earnings growth over the next two years.
clothing stores
PAST TOP PICK
(A Top Pick Jan 30/20, Down 2%) A major brand under them is Gucci. They were surprisingly not hurt last year due to switching to online efficiently. Revenues also held up well since people spent their travel budget into luxury goods. Their strength is picking up tired brands and then rejuvenating them. Great cashflow with a bullet proof balance sheet. They will make more acquisitions of brands that are cheap and invest in them. A cheap grower.
clothing stores
TOP PICK
Spectacular job of turning around tired brands, such as Yves St Laurent. No net debt. Expects double-digit revenue growth. Shares are down because of China locking down, plus unrest in Europe, creating a great opportunity to step in. (Price target in Euros.) Yield is 2.15%. (Analysts’ price target is $77.61)
clothing stores
The luxury market has been weak after the post-Covid boom. Chinese consumers are a major factor. Plus, their Gucci brand wasn't resonating with consumers. Their designer tried to make the brand more into leather goods and classic fashions, but that isn't what Gucci is about. They have a new designer, so he sees upside. Long-term, he likes luxury goods for being stable and an oligopoly. It trades at 17x PE forward where mid-20s is the norm, so there's room here.
(Analysts’ price target is $22.60)