Masroor Siddiqui Tabs Salvatore Ferragamo For Growth In Luxury Goods

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Rupert Hargreaves
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Ira Sohn London: Masroor Siddiqui, Managing Partner, Naya Management LLP. Trade Idea: Salvatore Ferragamo Italia SpA (BIT:SFER) (OTCMKTS:SFRGY). Short: Essilor International Cmpgn Gnl d’Opq SA (EPA:EI) (OTCMKTS:ESLOY) Price Target: E35 target price, 40% upside from current levels. E60 of Essilor current price is E80 Valuation: Themes: Masroor Siddiqui on Salvatore Ferragamo European company but only 25% of sales are within Europe. Luxury company, most of sales from footwear. Emerging market growth of luxury goods. Low single-digit sales growth expected 12-15. Underpriced vs. peers such as Burberry historically, plenty of room for growth by raising prices. Margins are key. Margins are significantly…


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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk