Richemont: UBS maintains its buy rating, raises target price

(CercleFinance.com) - UBS has reinstated its its "buy" rating on the Richemont share, having increased its corresponding target price from 94.
5 Swiss francs to 96.1 Swiss francs, which suggests upside potential of 15% for the Swiss luxury goods company's share.

Following a trading update, the broker says that it believes that "Yesterday's stronger-than-expected Q3 sales confirm the beginning of a return of a positive earnings momentum for CFR".

The share is currently up about 0.6% at about 86 Swiss francs, outperforming the SMI (up about 0.3%).


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