HK Stock Market Move | PRADA (01913) rose by over 6% in the afternoon, and it is rumored that PRADA is considering acquiring Valentino. Several major banks are optimistic about the company's growth prospects.

PRADA (01913) rose more than 6% in the afternoon, rising 5.64% to HK$62.7 at the time of writing, with a turnover of HK$92.49 million. On the news front, according to media reports, PRADA is evaluating the possibility of acquiring the Italian luxury fashion brand Versace and is working with advisors to consider potential transactions. Citigroup has provided advice to PRADA. Reports indicate that since mid-December last year, there have been increasing rumors that Capri is preparing to sell the Versace and Jimmy Choo brands and has commissioned Barclays to research possible sales. In addition, a recent research report by Morgan Stanley pointed out that the growth potential of the Prada brand in the foreseeable future remains strong. The bank maintained a "hold" rating for PRADA, with a target price raised from HK$67 to HK$69. The bank continues to expect PRADA's profit performance to outperform the market, citing the group's positive growth prospects, mainly benefiting from the strong performance of its subsidiary brand Miu Miu. UBS, on the other hand, has expressed that there is potential for the company's fundamentals to be reassessed, reiterating a "buy" rating and raising the target price from HK$74 to HK$77.