Hermès: Oddo raises target price
(CercleFinance.com) - Oddo analysts have confirmed their 'buy' rating on the Hermès stock, having raised their target price for the share to 530 euros (against 475 euros) after the group announced its 2017 results.
Analysts have also raised their EPS estimates by 5% for 2018 and 7% for 2019 to reflect the quality of this publication and the currency hedging effects that exceed their initial expectations.
Note that Hermès has published an underlying operating income that is 3% above the consensus' expectations for the second half of 2017, Oddo says.
The growth in the group's OM exceeds targets initially provided by the company (FY 2017 OM similar to the levels of H1 2017 at 34.3%), analysts pointed out.
The company has confirmed an "ambitious" organic sales growth target without providing actual figures. Meanwhile, the broker expects 7.1% at constant exchange rates for 2018.
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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.
Analysts have also raised their EPS estimates by 5% for 2018 and 7% for 2019 to reflect the quality of this publication and the currency hedging effects that exceed their initial expectations.
Note that Hermès has published an underlying operating income that is 3% above the consensus' expectations for the second half of 2017, Oddo says.
The growth in the group's OM exceeds targets initially provided by the company (FY 2017 OM similar to the levels of H1 2017 at 34.3%), analysts pointed out.
The company has confirmed an "ambitious" organic sales growth target without providing actual figures. Meanwhile, the broker expects 7.1% at constant exchange rates for 2018.
Copyright (c) 2018 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.