1102 GMT - Kering has already implemented a series of changes at a fast pace under the leadership of new CEO Luca de Meo, HSBC analysts Anne-Laure Bismuth and Erwan Rambourg write in a note. The group's share price has doubled since the announcement of the appointment in mid-June. However, the share price is unlikely to move much until spring, when de Meo will outline a strategic update, they add. Given the strong share-price run in such a short period of time, it is time to take a breather, HSBC says. "We see few positive catalysts playing out between now and the first speech of CEO Luca de Meo," the analysts say. HSBC downgrades the stock to a hold rating from buy. Shares trade 3% lower. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
October 24, 2025 07:02 ET (11:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.