Hermès: upbeat with broker's comments

(CercleFinance.com) - Hermès climbs more than 2% on the back of positive comments from Stifel, which, while maintaining its 'hold' recommendation, raises its target price from ?1950 to ?2100 in the wake of EBIT forecasts for 2024-25 raised by 4% for the luxury house.


The broker says he is "tactically constructive on Hermès, given its proven defensive attributes tending to shine when sector growth decelerates", which he expects to be particularly the case during the first-quarter earnings season.

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