Richemont: UBS still a buyer, but trims TP
(CercleFinance.com) - UBS reiterates its 'buy' recommendation on Richemont shares, while trimming its target price from 160 CHF to 158 CHF, with the latter still representing 14% upside potential for the stock, the day after the Swiss luxury group's trading update.
A solid Q1, with jewelry outperforming the market, confirms the structural attractiveness of the category in the current context, the broker says, adding that the share remains cheap on a cash-adjusted P/E ratio of 18x.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
A solid Q1, with jewelry outperforming the market, confirms the structural attractiveness of the category in the current context, the broker says, adding that the share remains cheap on a cash-adjusted P/E ratio of 18x.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.