Prada Continues to Face Headwinds and Lags Peers, but Shares Are Undervalued and Declines Improving

Prada Sales Update Disappoints; No Change to Fair Value Estimate

Narrow-Moat Prada's 1H 2017 Performance Underwhelms but Not Beyond Repair; Shares Undervalued

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Equity Bottom-Up

We still rate Prada Group a wide moat and will likely clip our HKD 38 fair value estimate a few percent following the company’s analyst meeting in New York.We had already partially incorporated the financial results released ahead of the meeting; however, it now appears it might take until 2017 to return to growth....Analyst: Paul Swinand

We still rate Prada Group a wide moat and will likely clip our HKD 38 fair value estimate a few percent following the company’s analyst meeting in New York.We had already partially incorporated the financial results released ahead of the meeting; however, it now appears it might take until 2017 to return to growth....Analyst: Paul Swinand

Details From Prada Analyst Meeting Push Out Growth but Still Positive Long-Term View

Prada S.P.A.

Details From Prada Analyst Meeting Push Out Growth but Still Positive Long-Term View