TD Cowen Starts Ermenegildo Zegna Group (ZGN) at Hold

TD Cowen analyst Oliver Chen initiates coverage on Ermenegildo Zegna Group (NYSE: ZGN) with a Hold rating and a price target of $10.00.

The analyst comments "ZGN is a multi-brand menswear (70-80% of sales) focused group that is increasing penetration in women's and accessories at Thom Browne and Tom Ford (combined ~30%). We are Hold rated as we monitor progress of FY25 as an investment year that yields headwinds to prior issued long-term targets (10% sales & 20% EBIT CAGR). We watch: store productivity and brand/merchandise changes in the portfolio."

For an analyst ratings summary and ratings history on Ermenegildo Zegna Group click here. For more ratings news on Ermenegildo Zegna Group click here.

Shares of Ermenegildo Zegna Group closed at $8.92 yesterday.

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