Citigroup: Prada (01913.HK) sees a rebound in growth for the Prada brand in the second quarter, maintaining a "Neutral" rating.

According to the Zhitong Finance APP, Citibank released a research report stating that same-store sales for the Prada brand under Prada (01913.HK) improved in the second quarter, and the shares are expected to respond positively. The group's sales reached 1.62 billion euros in the second quarter, approximately 3% higher than market expectations, with an organic growth of 7% excluding Versace, accelerating from 3% in the first quarter. Among these, wholesale grew by 21%, Prada retail grew by 6%, and Miu Miu retail grew by 3%. Citibank believes there is room for a low single-digit percentage upward adjustment in market expectations, maintaining a "Neutral" rating with a target price of 38 Hong Kong dollars.