Hermes: still Oddo's favourite stock in luxury
(CercleFinance.com) - In its comments on the European luxury goods sector, Oddo BHF says that Hermès International and LVMH remain its favourite stocks, on which it has "outperform" rating and respective target prices of 1,393 euros and 748 euros respectively.
The decline of the last few days does not completely protect against an actual slowdown in the sector if it were to materialise, although it clearly improves the risk-opportunity ratio, especially if we take a long-term view, the broker says.
The analyst therefore maintains his recommendations at this stage: continuing to prefer Hermès and LVMH, saying that both groups that are emerging from the COVID crisis with the strongest commercial momentum and the most favourable profitability conditions.
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