Richemont: UBS still a buyer
(CercleFinance.com) - UBS reiterates its Buy rating on the Richemont share, while trimming its target price for it to E147 (from E170).
The analyst believes that H1 results could allay fears about the economic situation.
"CFR shares are trading at 20-year relative lows vs. peers, thus pricing in far too much negativity. Upcoming H1 2024 results could dismiss key concerns," it says.
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.
The analyst believes that H1 results could allay fears about the economic situation.
"CFR shares are trading at 20-year relative lows vs. peers, thus pricing in far too much negativity. Upcoming H1 2024 results could dismiss key concerns," it says.
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.