Richemont: UBS raises target price
(CercleFinance.com) - UBS confirms its buy rating on the Richemont stock, raising its target price for it to 189 Swiss francs (from 175 Swiss francs).
UBS notes a strong fourth quarter, with strong growth in the Jewellery Houses.
Q4 sales were 8% higher than expected (+9% vs. UBS forecast), with constant currency growth of +22% (vs. +13% for UBS). EBIT for the second half of the year was 5% higher than UBS' forecast, it said.
Copyright (c) 2023 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.
UBS notes a strong fourth quarter, with strong growth in the Jewellery Houses.
Q4 sales were 8% higher than expected (+9% vs. UBS forecast), with constant currency growth of +22% (vs. +13% for UBS). EBIT for the second half of the year was 5% higher than UBS' forecast, it said.
Copyright (c) 2023 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.