Richemont: Bryan Garnier confirms 'buy' rating
(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating on the Richemont share and has confirm its fair value of 99 Swiss francs, in a note published on Friday morning, despite the group announcing results that are "below expectations".
The luxury goods group's sales reached 10,979 million euros over the last quarter, up 3% at real exchange rates and up 8% at constant exchange rates. Excluding the impact of exceptional inventory purchases, sales increased 7% at constant exchange rates.
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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 luxury goods group's sales reached 10,979 million euros over the last quarter, up 3% at real exchange rates and up 8% at constant exchange rates. Excluding the impact of exceptional inventory purchases, sales increased 7% at constant exchange rates.
Copyright (c) 2018 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.