Hermes: Credit Suisse raises TP and estimates

(CercleFinance.com) - In light of Q3 sales and the favourable outlook (+6%) for Q4, Crédit Suisse has raised its annual sales forecast for Hermès International from -13% to -8%.


The analyst has also revised estimates of operating profit for 2021/2022 (+6%) and sales for 2021 (+9%) and 2022 (+19%) relative to 2019 levels.

While Credit Suisse maintains its neutral rating on the stock, it has boosted its corresponding target price from 700 euros to 820 euros (current price just shy of 800 euros).


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.