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Hermès: UBS raises target price

( - UBS confirms its buy recommendation on the stock and raises its target price for it to E2753 (from E2508), representing 16% upside potential.

"We expect RMS to report a solid start to 2024 with a DD sales growth and continued momentum in Asia, despite ongoing China concerns, thus defying the sector's complex context".

In the medium term, despite economic, geopolitical and monetary uncertainties around the world, Hermès confirms an ambitious sales growth target at constant exchange rates, and says it is approaching 2024 with confidence, Hermès said.

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