Richemont: Stifel still a buyer, reduces TP

(CercleFinance.com) - Stifel confirms its Buy rating on Richemont shares, with a target price reduced from 158 CHF to 150 CHF.


The analyst has trimmed Richemont's 2025-2026 sales forecasts by 1%-2%, reflecting a more cautious view of the outlook for the Chinese market.

The broker believes that the gloomy mood among Chinese consumers is unlikely to change any time soon, and the easing of comparisons in China is likely to be offset by worsening macroeconomic conditions.

Stifel is also cutting its 2025-2026 EBIT forecast by 4%, also assuming more conservative margin assumptions and recent adverse changes in exchange rates.


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