HK-listed Prada hits 7-1/2-yr high on strong H1, outlook

** Shares of Italian fashion group Prada jump 20.1% to HK$65.30, the highest since Feb 2014, on course for fifth consecutive session of gains

** Stock last up 13.6%, on track for best day since March 2018; the fifth-biggest pct gainer on the HK bourse

** Milan-based luxury group sees sales rising further in H2 after H1 rev beats market expectations, extending a recovery from the worst of the COVID-19 crisis

** Jefferies maintains "hold" on stock but raises PT to HK$56.90 from HK$51.70, as brokerage lifts sales assumption in 2021 to 2023 on H1 results

** Citi says Prada's turnaround could drive an attractive EPS upgrade cycle and faster-than-expected margin recovery, and it sees slight share price upside near-term

** The Hong Kong Hang Seng Commerce & Industry Index falls 2.1%, and the Hong Kong Hang Seng consumer goods and services index slips 0.8%

** The benchmark Hang Seng Index slides 1%

** As of last close, the stock had gained 6.2% this year