Hermès: Stifel still on hold

(CercleFinance.com) - Stifel maintains its 'hold' rating on Hermès shares, with an unchanged target price of E2,100.


The broker reports that Hermès will publish its Q3 2024 sales on 24 October.

It is expected to announce solid organic growth of +10.8%, confirming the stock's defensive appeal in a difficult results season for its competitors.

2024-2025 EBIT forecasts have been trimmed by 1% due to lower sales estimates in Asia-Pacific and lower margins.


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