jeopardytheme| UBS: Raises Prada price target to HK$76.5 Performance addresses key investors 'concerns

UBS released a report saying Prada's net income in the first quarter rose 16.0% year-on-yearjeopardytheme.5%, significantly higher than market forecastsjeopardytheme13%. Growth in major retail channels continues to accelerate to 17.9%, and the strong momentum is expected to continue into this month.

The bank believes the results address key investors 'concerns and limit the evidence to support bearish arguments.

The bank pointed out that the popularity of leading brands again showed in the first quarter, the group's brand trend is developing in the right direction, and the growth rate of leather products is even greater.

The bank raised the group's earnings per share forecast by about the middle single digits, reiterated its "buy" rating, and raised its target price from HK$74.5 to HK$76.5.