BUZZ-Goldman Sachs looks for luxury brands exposed to China recovery, ups Moncler and Prada

Reuters12-06

** Goldman Sachs upgrades Italian luxury brand Moncler

and Hong Kong-listed Prada to "buy" from "neutral" as it prefers China-resilient brands

** "Key debate for the sector remains the timing and shape of a recovery in China", GS says

** It prefers "brands which have outperformed across the Chinese cluster in 2023-24, and which we see are well-positioned for the recovery, albeit in the second half of 2025"

** GS points to Moncler, LVMH and Prada as "brands capable of market share expansion at an attractive valuation"

** Frankfurt-listed shares in Prada rise 5.7%, while those in Moncler are up 3.8%

(Reporting by Romolo Tosiani)

((Romolo.Tosiani@tr.com))

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