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Top related persons:
Ashley Wallace - 3 Wallace - 3 Richemont - 1 Burkhart Grund - 1 LVMH Moet Hennessy Louis Vuitton - 1 Gucci - 1 Bernstein - 1 Luca Sola - 1
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U.S Europe China Japan Southeast Asia China's Thursday's Kering
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Bank of America - 3 Cartier - 1 U.S - 1 U.S . - 1 EU - 1 Europe - 1 Citi - 1 Bank - 1

Search resuls for: "Ashley Wallace"


3 mentions found


☆ These luxury stocks won't lose their luster even as sales growth slows to pre-pandemic levels
  + stars: | 2023-11-10 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +13 min
After three years of record growth, luxury companies are feeling the pain as sales slow to a more normal pace. Nowhere have the struggles of the luxury sector been more prominent than in the French conglomerate LVMH Moet Hennessy Louis Vuitton , the group's bellwether. This dynamic tends to hurt the less-prestigious luxury brands more, according to Rogerio Fujimori, an analyst at Stifel. "Chinese [consumers] are back to Southeast Asia and Japan, but there's still a long way to go in terms of Europe. LVMH and other European luxury brands have been market leaders among European equities since 2021 until the first half of 2023.
Persons: Richemont, Burkhart Grund, LVMH Moet Hennessy Louis Vuitton, Gucci, Ashley Wallace, Bernstein, Luca Sola, Rogerio Fujimori, Fujimori, Wallace, Stifel's Fujimori, there's, Richemont's Grund, —, Fujimori foresees, we've, Hermes, Brunello, Thomas Chauvet, Louis Vuitton, Brunello Cucinelli, LVMH, Dior, Markus Hansen, Hansen, America's Wallace, It's, Vontobel's Hansen, — CNBC's Michael Bloom Organizations: Cartier, Bank of America, U.S, U.S ., EU, Europe, Citi, Bank, Gucci, Bottega Locations: U.S, Europe, Japan, China, Southeast Asia, China's, Thursday's, Kering
☆ 'One of the cheapest stocks': Bank of America just upgraded these 3 luxury names in Europe
  + stars: | 2023-09-26 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
Bank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. The investment bank expects profit margins to decline by one percentage point for the sector even as third-quarter revenue is seen growing modestly. Meanwhile, the investment bank upgraded Ermenegildo Zegna and Pandora to buy, and Hugo Boss to neutral from underperform. The investment bank believes a similar pattern will likely emerge in Europe with spending on the continent peaking early this year. Despite Pandora shares' 45% rally this year, the Bank of America analyst still considers it "one of the cheapest stocks in all of Consumer Discretionary."
Persons: Prada, Tod, Pandora, Hugo Boss, Ashley Wallace, Wallace, Pandora Wallace Organizations: of America, Bank of America, underperform, Zegna Bank of America Locations: Europe, United States, U.S, China
☆ Buy this luxury stock with more than 20% upside, Bank of America says
  + stars: | 2023-09-25 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
Zegna has an impressive growth story within the luxury sector, and recent underperformance in the stock offers an attractive opportunity for investors, according to Bank of America. The firm upgraded the menswear designer's shares to buy from neutral Monday and increased its price target to $16.50, implying more than 20% upside from its Friday closing price. "We see one of the fastest earnings growth profiles and profitability improvement for Zegna in our Italian coverage," Bank of America analyst Ashley Wallace said in a note. Bank of America estimates sales densities may already be at a 35% improvement from 2021 and more than halfway toward the company's mid-term guidance, Wallace said. "Category transition into leisurewear is proving to be successful as the company sees traffic, conversion and average purchase value all contributing to growth."
Persons: Zegna, Ashley Wallace, Wallace, Tom Ford, Michael Bloom Organizations: Bank of America
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