Prada SpA
01913: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$88.00 | Rfmscz | Kvsyhnlrd |
Prada: Solid Revenue Growth on Improved Brand Momentum
We are increasing our fair value estimate for Prada to HKD 48 from HKD 38 as we incorporate full-year 2022 results and first-quarter revenue into our models. Around 15% of the fair value estimate increase stems from currency moves and time value of money, while the rest is driven by our assumptions for stronger near-term growth helped by brand momentum and faster margin scaling. We still view shares as expensive at current levels.