StreetInsider.com News Articles

Goldman Sachs downgrades Zegna after luxury stock outpaces peers

Thu, 18 Jun 2026 07:28:15 -0400

Investing.com -- Goldman Sachs cut its rating on Zegna to "neutral" from "buy" rating, saying the Italian luxury group’s shares had risen far enough to reflect the strength of its turnaround, even as the broker raised its price target to $14 from $13.30.

Zegna shares have gained 39% so far in 2026 and climbed 60.3% over the past 12 months, outperforming traditional luxury peers and the STOXX600 by 57 percentage points and 44 percentage points, respectively, Goldman Sachs said.

"Thesis played out - Move Zegna to Neutral," the analysts said, adding that "with the core elements of our thesis increasingly

Goldman Sachs Downgrades Ermenegildo Zegna Group (ZGN) to Neutral

Wed, 17 Jun 2026 03:25:31 -0400

Goldman Sachs analyst Adrien Duverger downgraded Ermenegildo Zegna Group (NYSE: ZGN) from Buy to Neutral with a price target of $14.00 (from $13.30).

The analyst comments: “Zegna shares are +39% YTD and c.+60% over the past 12 months and have outperformed Luxury peers / the STOXX600 by 57pp/44pp over the period. This outperformance has been driven by: (i) Zegna brand's growth in the last few quarters supported by its exposure to the high-end consumer, product initiatives and best-in class clienteling in an overall challenging environment; (ii) Reduced China exposure with US taking share, and (iii) Wholesale rationalisation and pivot towards DTC

Goldman Sachs Downgrades Ermenegildo Zegna Group (ZGN) to Neutral

Wed, 17 Jun 2026 03:25:31 -0400

Goldman Sachs analyst Adrien Duverger downgraded Ermenegildo Zegna Group (NYSE: ZGN) from Buy to Neutral with a price target of $14.00 (from $13.30).

TD Cowen Upgrades Ermenegildo Zegna Group (ZGN) to Buy

Wed, 20 May 2026 02:44:44 -0400

TD Cowen analyst Oliver Chen upgraded Ermenegildo Zegna Group (NYSE: ZGN) from Hold to Buy with a price target of $15.00 (from $13.00).

The analyst comments: “We see proven durability to core Zegna brand (~60% of revs), credible path to improvement at Tom Ford & Thom Browne, and margin upside as DTC mix rises and SG&A leverage improves across the three brands. We view ZGN as a beneficiary of the K-shaped consumer, supported by a sticky, ultra-premium and relationship-driven client base. We had previously been cautious on China (~25% of mix), but improving sales (+5% in 1Q) give us incremental conviction.

TD Cowen Upgrades Ermenegildo Zegna Group (ZGN) to Buy

Wed, 20 May 2026 02:44:44 -0400

TD Cowen analyst Oliver Chen upgraded Ermenegildo Zegna Group (NYSE: ZGN) from Hold to Buy with a price target of $15.00 (from $13.00).

Which luxury companies are best equipped to navigate challenging macro conditions?

Sat, 16 May 2026 16:00:00 -0400

Bernstein analysts are out with a note in which they frame the current challenges facing global luxury companies as arising out of events that will either worsen wealth inequality and pressure the middle class, or conversely, empower the middle class again. The question as to which luxury companies are best prepared for consumer polarisation then depends on which customer base they are more geared towards and which group ends up benefiting more as events unfold.