Hermes: UBS lowers target price
(CercleFinance.com) - The analyst confirms his buy recommendation on the stock, but lowers his target price for it to E2510 (from E2626) following the announcement of a solid first half.
This target represents 25% upside potential at its current level.
"RMS delivered solid Q2 organic sales growth of +13%, proving the resilience of its business model, worth paying for. Still one of our top picks," UBS says.
Operating income before non-recurring items came in at E3.1bn (42% of sales), and net income, group share was E2.4bn (32% of sales). Cash flow from operating activities was up 7% at E2.2bn.
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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 decision-making aids 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.
This target represents 25% upside potential at its current level.
"RMS delivered solid Q2 organic sales growth of +13%, proving the resilience of its business model, worth paying for. Still one of our top picks," UBS says.
Operating income before non-recurring items came in at E3.1bn (42% of sales), and net income, group share was E2.4bn (32% of sales). Cash flow from operating activities was up 7% at E2.2bn.
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 decision-making aids 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.