Kering Hits 15-Month High as Morgan Stanley’s Top Luxury Pick

Kering SA shares soared to the highest level in almost 15 months after Morgan Stanley analysts crowned the Gucci owner as their top pick among European luxury stocks.

The team led by Edouard Aubin upgraded the Paris-based firm to overweight, alongside national rival LVMH Moët Hennessy Louis Vuitton SE, citing fresh industry momentum spurred by a wave of new creative directors replacing long-tenured predecessors.