Swatch: Oddo still a seller after H1 results

(CercleFinance.com) - Oddo BHF confirms its "reduce" rating on the Swatch group share, along with its target price of 154 Swiss francs, the day after the watchmaker published its H1 results, marked by a sharp fall in sales and a loss of over 300 million Swiss francs.


The broker notes that the Swiss group is counting on a return to a sufficiently positive EBIT in H2 for FY EBIT to be positive, despite the heavy loss recorded in H1.

The broker says tht it doesn't completely share such enthusiasm, believing that growth in China and much of Asia will remain sound in the second half of the year, although it is much more cautious about the rest of the world.


Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.