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<Research>Citi Trims PRADA (01913.HK) TP to $52.3, Rating Neutral
PRADA (01913.HK)'s 2024 revenue grew 17% at constant exchange rate (CER) basis, surpassing the industry level, with a 13% incline in 1Q25, Citi Research issued a research repor...
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<Research>Citi Trims PRADA (01913.HK) TP to $52.3, Rating Neutral
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STOCK INFO

PRADA (01913.HK)  +0.500 (+1.027%)    Short selling $2.95M; Ratio 4.500%   's 2024 revenue grew 17% at constant exchange rate (CER) basis, surpassing the industry level, with a 13% incline in 1Q25, Citi Research issued a research report saying.

However, the growth mainly stemmed from MIU MIU, while its core brand Prada further slowed down. The management's 'priority is growth' mantra requires more significant investments in advertising, manufacturing and IT infrastructure.

Citi Research lowered its sales/ EBIT/ EPS forecasts for PRADA in 2025 and 2026 by 4%/ 6%/ 6% each to reflect slightly lowered revenue growth expectations, adverse foreign exchange impacts and ongoing operational and capital expenditure investments. Therefore, the broker trimmed its target price from $59.8 to $52.3, with rating at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-02 16:25.)

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