Opinions Jamie Murray 
KeringPPRUYPAST TOP PICKJan 07, 2026
Jamie Murray Stock price when the opinion was issued
As of May 28, 2026. Market Open.
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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)Jamie Murray The problem is that Gucci continues to underperform; they changed designers. Has huge free cash flow, a good balance sheet and pays a 5.5% dividend. Disappointing.
Lorne SteinbergExcellent company with Gucci as top brand.
Luxury brand space will see further growth in Asia.
Expecting increased revenue in 2024.
Stan WongChina closing up caused a drop in sales but it is re-opening and the Chinese people are huge buyers of luxury goods. It has big growth ahead and lots of free cash flow. It is also very good at turning brands around.
Lorne SteinbergLorne SteinbergLorne SteinbergLorne Steinberg
Still in turnaround mode, which is starting to take hold. New CEO last year. Sold in October, as the variable dividend no longer met his firm's threshold. Luxury market is still a good one.