Richemont: Credit Suisse raises target price
(CercleFinance.com) - On Monday morning, Credit Suisse analysts said that they have raised their target price for the Richemont share, while confirming their "Underperform" rating.
They have raised from 48 Swiss francs to 55 Swiss francs (Monday's closing price: 60 Swiss francs; share pretty flat towards midday on Tuesday).
"Ahead of 1Q sales on 16 July, we trim our 1Q and FY21e organic sales forecasts to -47% and -12%. The sales cut and stronger euro are largely offset by a better category mix leading to a 1% average increase to our FY21-23e EPS forecasts," the broker said.
Copyright (c) 2020 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.
They have raised from 48 Swiss francs to 55 Swiss francs (Monday's closing price: 60 Swiss francs; share pretty flat towards midday on Tuesday).
"Ahead of 1Q sales on 16 July, we trim our 1Q and FY21e organic sales forecasts to -47% and -12%. The sales cut and stronger euro are largely offset by a better category mix leading to a 1% average increase to our FY21-23e EPS forecasts," the broker said.
Copyright (c) 2020 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.