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Richemont: Bryan Garnier confirms 'buy' rating

(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating on the Richemont share and has confirm its fair value of 99 Swiss francs, in a note published on Friday morning, despite the group announcing results that are "below expectations".

The luxury goods group's sales reached 10,979 million euros over the last quarter, up 3% at real exchange rates and up 8% at constant exchange rates. Excluding the impact of exceptional inventory purchases, sales increased 7% at constant exchange rates.

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