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Hermès: Oddo BHF starts to monitor with 'buy' rating

( - Oddo BHF has begun to monitor the Hermès share with a "buy" rating and a target price of 776 euros, highlighting the stock's "top pick" status amongst the five largest market capitalisations in the European luxury sector, which it has begun to cover.

The broker says that it has is firmly positive stance towards the three soft luxury giants, Hermès, LVMH and Kering (all three of which it rates "buy"), for which it expects top line growth to be maintained above +5% p.a. over the next few financial years.

However, the broker says that it is more cautious regarding Richemont and Swatch, which seem to have lower growth outlooks, adds the analyst who monitors the shares. Indeed, he has adopted "reduce" ratings on the shares of these two Swiss sector players.

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