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End-of-week edition with analyst upgrades, Pace Gallery restructuring, and the week in review. Tickers covered: MC.PA | ZGN | CFR.SW | UHR.SW | WOSG.L | BRBY.L
Good evening. It's Friday, June the fifth. I'm Sharon, and
This episode of Closing Price is brought to you by ALT/FNDATA, the market intelligence platform for insights on the luxury markets and related public equities. With our data sandbox, you can work directly with the dashboards and datasets behind today's signals to keep your finger on the pulse of the market and drive your competitive advantage. Book a demo at altfndata.com/book.
this is Closing Price from ALT/FNDATA.
Tonight: analyst upgrades for LVMH and Zegna, Pace Gallery's
restructuring, and the week in review.
Bank of America has upgraded LVMH, ticker MC on Euronext
Paris, to a Buy rating. The bank has also upgraded Zegna,
ticker ZGN on the NYSE, to Buy with a price objective of
$8.90 — representing a 17% potential upside. BofA describes
Zegna as "one of the more undervalued stories in luxury,"
citing the brand's outperformance in developed markets.
Zegna staged its Summer 2027 runway show in Los Angeles
today, accompanied by Villa Zegna, an invitation-only
private club in Hollywood. The US has become a key growth
market for the brand.
LVMH and Kering have both seen their stocks rally on
the back of recent upgrades. Kering is up approximately 49%
over three months. LVMH is up approximately 42% over the
same period, though it remains well below its 52-week high
of EUR 654.70.
Pace Gallery announced it is cutting approximately 50
artists from its roster of 135 and reducing staff from 250
to 200. Chief executive Marc Glimcher described the mega-
gallery model as "unfixable."
Pace operates in New York, London, Los Angeles, Hong Kong,
Seoul, Tokyo, and Geneva. The restructuring reflects
pressure on the primary art market — the same market that
feeds consignment pipelines for Christie's, Sotheby's, and
Phillips.
This was the first full week of the ALT/FNDATA podcast
network. Here is where the key numbers stand heading into
the weekend.
Spring auction season: $1.8 billion across Christie's,
Sotheby's, and Phillips in May.
Luxury equities: LVMH at EUR 477, upgraded to Buy by BofA.
Richemont near record high at CHF 161.80. Watches of
Switzerland up 14% on FY2026 earnings. Swatch at CHF 215.
Burberry delayed net zero target by a decade.
Market data: De Beers average diamond cost $4,063, up 25%
from 2023. Swiss watch exports to the US down 17% in April.
Hong Kong luxury sales up 20% in April.
Auctions ahead: Sotheby's Magnificent Jewels June 9th.
Five watch auctions across three houses June 10th through
15th. Bonhams National Automobile Museum June 13th.
That is Closing Price for Friday, June the fifth.
I'm Sharon, from ALT/FNDATA. Open Bid returns Monday
For the data behind today's signals, the ALT/FNDATA data sandbox gives you hands-on access to our market dashboards and proprietary datasets, so you can test the divergence yourself. Book a demo at altfndata.com/book, or reach us anytime at info@altfndata.com.
morning at six AM Eastern. Have a good weekend.
