Hermès: Stifel confirms TP
(CercleFinance.com) - Stifel maintains its Hold rating on Hermès shares, with an unchanged target price of E1,850.
The broker believes that Hermès should once again demonstrate its defensive nature in Q3 2023: it estimates sales growth of +14% at constant exchange rates.
"We leave our FY23-25E EBIT forecasts broadly unchanged, nudging up our sales forecasts and trimming our margin assumptions," the broker says.
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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 broker believes that Hermès should once again demonstrate its defensive nature in Q3 2023: it estimates sales growth of +14% at constant exchange rates.
"We leave our FY23-25E EBIT forecasts broadly unchanged, nudging up our sales forecasts and trimming our margin assumptions," the broker 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.