Hermes: Oddo adjusts its target price.
(CercleFinance.com) - Oddo adjusts its target price to 490 euros (compared to 500 euros previously) and maintains its 'buy' recommendation.
Oddo considers that 2nd quarter 2017 turnover is in line with expectations. Organic growth is 8.3%, close to the consensus of 8.5%.
“Per category, Perfumes and Silk & Textile are disappointing, Clothes & Accessories and Watches are at a surprising high and Leather is in line with expectations” indicated Oddo.
“Per region, France is the most disappointing, followed by the Americas, which also came below our expectations. Japan is overall in line with expectations whilst the rest of Europe and Asia Pacific fall short”.
Copyright (c) 2017 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.
Oddo considers that 2nd quarter 2017 turnover is in line with expectations. Organic growth is 8.3%, close to the consensus of 8.5%.
“Per category, Perfumes and Silk & Textile are disappointing, Clothes & Accessories and Watches are at a surprising high and Leather is in line with expectations” indicated Oddo.
“Per region, France is the most disappointing, followed by the Americas, which also came below our expectations. Japan is overall in line with expectations whilst the rest of Europe and Asia Pacific fall short”.
Copyright (c) 2017 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.