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).
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