Richemont: UBS still a buyer
(CercleFinance.com) - UBS reiterates its buy rating on the Richmont stock, with a target price of 147 Swiss francs, following the European Commission's decision.
"The European Commission unconditionally cleared the acquisition by FTCH (Neutral) of a 47.5% stake in YNAP in exchange for the issuance of FTCH Class A ordinary shares to CFR (Buy). Meanwhile, Symphony Global acquires a 3.2% stake in YNAP," UBS says.
The various Richemont houses also intend to adopt the technology of Farfetch, a specialist in online sales of luxury goods, across all their distribution channels.
The operation looks set to be completed by the end of the year, in line with the timetable initially scheduled.
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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 European Commission unconditionally cleared the acquisition by FTCH (Neutral) of a 47.5% stake in YNAP in exchange for the issuance of FTCH Class A ordinary shares to CFR (Buy). Meanwhile, Symphony Global acquires a 3.2% stake in YNAP," UBS says.
The various Richemont houses also intend to adopt the technology of Farfetch, a specialist in online sales of luxury goods, across all their distribution channels.
The operation looks set to be completed by the end of the year, in line with the timetable initially scheduled.
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.