ZGN - Goldman Sachs Bullish On Zegna's Growth Trajectory Sees Brand Momentum And Loyal Customer Base As Drivers | Benzinga
Goldman Sachs analyst Louise Singlehurst upgraded Ermenegildo Zegna N.V. (NYSE: ZGN) to Buy from Neutral, raising the price target to $18.70 from $17.
The analyst highlighted that the fundamental investment case for Zegna is positive, and given the recent underperformance, the analyst now sees valuation as more attractive.
Zegna's medium-term targets announced at its CMD (December 5) look for over a 10% sales CAGR over the medium term (using 2023 as a base) and 20% CAGR in adjusted EBIT.
On a four-year view (2023-27E) the analyst ...