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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