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Hermes: Credit Suisse begins tracking with neutral rating

( - On Tuesday Credit Suisse initiated coverage of Hermès shares with a "neutral" rating and a target price of 1230 euros.

In a report on European luxury stocks, the broker says that it is "fundamentally positive" on the sector, in particular highlighting its "consistent" stockmarket devaluation YTD.

Regarding Hermès shares in particular, the analyst believes that the Parisian house's excellence, as well as the rarity of its products, are factors that are already well priced in.

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