Kering SA

KER: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€385.00	Jgmwb	Mdtswcl

Kering's Performance Hit by China Lockdowns and Gucci Weakness; Shares Fairly Valued

Jelena Sokolova

Feb 15, 2023

We maintain our EUR 620 fair value estimate for narrow-moat Kering after the company delivered a rather weak set of fourth-quarter results hindered by lockdowns in China and weak Gucci performance. We view shares as fairly valued at the moment.

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