Richemont : Oddo BHF cuts target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Richemont shares, while lowering its target price from 161 CHF to 144 CHF, after a 10% reduction in its EBIT forecasts, reflecting relative cost inertia.
Mentioning a more difficult environment in China, the broker explains that a more cautious view of the sector's prospects leads it to adopt a lower growth scenario for the Swiss luxury group over 2025 and 2026.
Oddo BHF nevertheless considers Richemont's position still enviable relative to the rest of the sector, and that the robust positioning in jewelry and a now moderate valuation justify maintaining a favorable opinion.
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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.
Mentioning a more difficult environment in China, the broker explains that a more cautious view of the sector's prospects leads it to adopt a lower growth scenario for the Swiss luxury group over 2025 and 2026.
Oddo BHF nevertheless considers Richemont's position still enviable relative to the rest of the sector, and that the robust positioning in jewelry and a now moderate valuation justify maintaining a favorable opinion.
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.