RBC cuts Kering target to EUR 260: Kering stock sits below target

Published on 10/07/2026 at 09:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached EUR 7.2 billion, up 1 percent on a comparable basis. Kering stock costs EUR 210.75 on October 7, 2026 versus EUR 209.25.

Flatlay mit Aktienzertifikat, ISIN-Karte und Luxusgüter-Utensilien auf dunklem Grund — Flatlay mit Aktienzertifikat und ISIN-Karte FR0000121485 illustriert Kapitalmarkt-Präsenz von Kering S.A. anschaulich, Illustration mit AI erstellt.

Kering stock (ISIN FR0000121485) was trading at EUR 210.75 at Lang & Schwarz on October 7, 2026 at 9:21 a.m. CEST. RBC Capital Markets cut its price target from EUR 280 to EUR 260, leaving the target 23.37 percent above the euro price, according to Finimize.

RBC trims target ahead of results

RBC expects Gucci organic sales to fall 5 percent in the third quarter of 2026 and forecasts a 2 percent decline for Kering's fashion and leather goods unit. The bank also puts its 2026 earnings estimate 8 percent below analyst consensus, making the EUR 260 target dependent on a recovery that still has to reach Gucci.

The next test is scheduled for October 22, 2026, when Kering is due to report third-quarter sales. Kering lists its first-half 2026 results as published on July 28, 2026, establishing the latest reported period before that update.

Half-year recovery has limits

In the first half of 2026, revenue reached EUR 7.2 billion, down 3 percent on a reported basis but up 1 percent on a comparable basis, according to the Yahoo Finance transcript dated July 28, 2026. Comparable growth returned in the second quarter at 2 percent, a 2-point sequential improvement.

Recurring operating income came to EUR 921 million, producing a 12.8 percent margin that was 40 basis points higher year over year and 300 basis points above the second half of 2025. The improvement gives Kering more operating flexibility, but the Gucci forecast keeps brand recovery as the central earnings variable.

Stock stays near yearly low

The stock's euro price stood 3.71 percent above its 52-week low of EUR 203.20 and 40.50 percent below its 52-week high of EUR 354.20, using the range quoted for October 6, 2026. Its market capitalization was EUR 26.4 billion on that date.

At Lang & Schwarz, Kering was trading at EUR 210.75 on October 7, 2026 at 9:21 a.m. CEST, plus 0.72 percent versus the Euronext Paris close of EUR 209.25 on October 6, 2026. The further course of trading is shown by the continuously updated real-time quote of Kering stock.