Richemont: Stifel raises target price

(CercleFinance.com) - Stifel reiterates its 'buy' recommendation on Richemont shares, while raising its target price from 144 CHF to 152 CHF, in a more general report on the outlook for European luxury stocks in 2025.


Believing that H2 2024 would mark the sector's low point in the current down cycle, the broker hopes for a sequential improvement in sales in the first half of 2025, thanks to 'green shoots' in the US and stimulus measures in China.

Stifel therefore raises its view of the sector from 'cautious' to 'neutral' for the year ahead, before an expected return to +7% organic growth in H2 2025, and cites Richemont among its favorite luxury stocks in view of sales growth.


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