Moncler drops after Oddo trims forecast
** Shares in Italy's Moncler MONC.MI fall 4% after Oddo BHF downgraded its forecasts on the luxury group's operating income (EBIT), expecting a sharp slowdown in growth in Q2
** Oddo also lowers the group's TP by 5.8% to 65 euros ($69.66)
** Direct-to-consumer growth for the Moncler brand is likely to drop below 10% in Q2 (vs +20% in Q4 2023 and +26% in Q1 2024), Oddo says, citing a slowdown in Hong Kong, Macao and South Korea, and a volatile US market
** The broker lowers its previous forecast on Moncler's current EBIT for 2024 by 1% to 944 million euros, and for 2025 and 2026 by 2% to 1,054 million euros and 1,171 million euros, respectively
** By 0859 GMT the stock is down 3.7% to 56.9 euros and is on track for it's lowest closing price since January 26
($1 = 0.9331 euros)
Reporting by Alessandro Parodi
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