1144 GMT - Prada could take its growth story to the next level in 2025, UBS analysts write in a research note. The Italian luxury fashion firm will likely end 2024 as the fastest-growing publicly listed luxury name and is expected to remain in the top-performing group next year against an uncertain sector backdrop, the analysts say. For 2025, UBS forecasts group organic sales growth of 11%, with sales reaching 6.06 billion euros. The analysts see the Hong Kong-listed company as one of the best-executed turnarounds in the luxury sector, with its Miu Miu brand having experienced a significant acceleration in momentum. Shares closed 3.3% higher at 57.95 Hong Kong dollars. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 03, 2024 06:44 ET (11:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments