Swatch Group: Oddo still a seller, but raises TP
(CercleFinance.com) - Oddo maintains its Underperform rating on Swatch shares, although has raised its target price for them from 286 Swiss francs to 303 Swiss francs (cp about 306 Swiss francs, -2%).
The analyst remains cautious about long-term growth. He says that the increase in the broker's forecasts and a long-term normative margin of 17.5% (vs. 16.6% previously) lead it to raise its target price to 303 Swiss francs, which is slightly below its recent price.
Being less optimistic than the consensus, Oddo still believes that the group's growth momentum, beyond the catching up in China, remains well below that of the luxury sector.
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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.
The analyst remains cautious about long-term growth. He says that the increase in the broker's forecasts and a long-term normative margin of 17.5% (vs. 16.6% previously) lead it to raise its target price to 303 Swiss francs, which is slightly below its recent price.
Being less optimistic than the consensus, Oddo still believes that the group's growth momentum, beyond the catching up in China, remains well below that of the luxury sector.
Copyright (c) 2023 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.