SMCP: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its rating on SMCP from "hold" to "buy," with a target price of 17.
2 euros, after the share's 18% fall over the past 30 days, which the broker says, reflects "the challenging retail climate caused by riots in France in Q4".
"We see many strengths in the SMCP story, notably the retail-led model and store network expansion within China and Europe," the broker summarises.
Trading at a discount relative to affordable luxury peers, Jefferies thinks "inherent risks of growth in an uncertain economic climate are more than compensated by a tangible opportunity".
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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.
2 euros, after the share's 18% fall over the past 30 days, which the broker says, reflects "the challenging retail climate caused by riots in France in Q4".
"We see many strengths in the SMCP story, notably the retail-led model and store network expansion within China and Europe," the broker summarises.
Trading at a discount relative to affordable luxury peers, Jefferies thinks "inherent risks of growth in an uncertain economic climate are more than compensated by a tangible opportunity".
Copyright (c) 2019 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.