Swatch: Jefferies downgrades stock

(CercleFinance.com) - Jefferies downgrades Swatch shares from 'hold' to 'underperform', with a target price lowered by 29% to 120 Swiss francs, pointing to a 'turbulent autumn for luxury goods', with sector forecasts lowered over the past month.


The broker reduces its 2025 EBIT assumptions for the sector to levels more than 5% below recently updated estimates (and more than 7% below published consensus).

Regarding Swatch more specifically, Jefferies points to excessive exposure to the mid-range and the Chinese set, as well as projections now 14% below recent consensus.


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