Richemont: UBS maintains buy rating
(CercleFinance.com) - Richemont has published a 61% increase in profit to 2.
08 billion euros for its FY to end-March, as well as a 6.5-point improvement in its operating margin to 17.7%.
At nearly 19.2 billion euros, the group's revenues increased by 46% (+44% at constant exchange rates).
Following this announcement, UBS has confirmed its buy rating on the stock with a target price of 151 Swiss francs.
"We address the key pushbacks from investors following the "seemingly" disappointing FY22 results last week. CFR remains our top pick," UBS said.
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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.
08 billion euros for its FY to end-March, as well as a 6.5-point improvement in its operating margin to 17.7%.
At nearly 19.2 billion euros, the group's revenues increased by 46% (+44% at constant exchange rates).
Following this announcement, UBS has confirmed its buy rating on the stock with a target price of 151 Swiss francs.
"We address the key pushbacks from investors following the "seemingly" disappointing FY22 results last week. CFR remains our top pick," UBS said.
Copyright (c) 2022 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.