Moncler Morgan Stanley trims target, shares stay in luxury spotlight

Morgan Stanley has lowered its price target for Moncler to 57 euros while keeping an equal-weight rating, citing slower U.S. momentum and European tourism risks versus peers like LVMH and Kering.

By Christina Vogel, Background & Management desk. Reviewed prior to publication on 2026-06-23, 14:17.

Moncler (IT0005252207) sits among Europe’s listed luxury names on Borsa Italiana in Milan, with peers such as LVMH and Kering in the broader sector universe. Recent sector coverage highlights Moncler’s positioning in the high-end outerwear and apparel segment.

Morgan Stanley stays cautious

Morgan Stanley has cut its Moncler price target to 57 euros from 59 euros, reiterating an equal-weight rating and pointing to slower growth in the United States and potential risks from European tourism flows. The broker update outlines its revised stance with forecasts now around 2 percent below consensus for 2026 and 2027.

The new 57-euro target is derived from a blend of discounted cash flow and multiples-based valuation, with the DCF implying 55 euros per share on an 8.8 percent weighted average cost of capital and a 2.5 percent terminal growth rate. The report also references Moncler’s historical next-12-month P/E of around 24.7 times.

Forecasts and upcoming earnings date

For 2026, Morgan Stanley models group revenue of 3.25 billion euros, rising to 3.46 billion euros in 2027 and 3.66 billion euros in 2028, with EBIT projected at 951 million, 1.02 billion and 1.09 billion euros, respectively. The same analysis pegs 2026 earnings per share at 2.34 euros, modestly below a 2.40-euro consensus.

At the brand level, the broker expects Moncler retail sales to grow 5 percent year-on-year in the second quarter of 2026 at constant exchange rates, with about 3 percent from new selling space and 2 percent from like-for-like performance, while Stone Island is seen advancing 15 percent after a 17 percent increase in the first quarter. Moncler is scheduled to present its second-quarter and first-half 2026 results on July 22, keeping Milan investors focused on the upcoming reporting date.

The product behind the stock

Moncler generates most of its revenue with high-end outerwear and related apparel under the Moncler brand, including its well-known padded down jackets and seasonal ready-to-wear collections, complemented by the Stone Island label in technical casualwear. The group highlights outerwear as its core product category in its brand presentation.

Where the shares trade today

The Moncler shares (IT0005252207) trade on Borsa Italiana in Milan under the ticker MONC in euros; the latest available quote and exact time stamp are provided on the exchange’s official pages and major financial data platforms.

Key data on the Moncler shares

• Company: Moncler S.p.A.
• ISIN: IT0005252207
• WKN: A1W4U1
• Ticker: MONC
• Trading venue: Borsa Italiana (Milan)
• Price (as of latest available quote): live-verified on Borsa Italiana, euros
• Market cap: live-verified on Borsa Italiana, euros (latest available)
• Sector / industry: Luxury goods / apparel
• Index membership: FTSE MIB
• Next earnings date: 2026-07-22

This text is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities.