Swatch: Credit Suisse raises target price

(CercleFinance.com) - Crédit Suisse reaffirms its "outperform" rating the Swatch Group share, having raised its corresponding target price from 260 Swiss francs to 280 Swiss francs, after increasing its earnings estimates for the Swiss watchmaker.


It now anticipates FY 2020 operating profit of 98 million Swiss francs, almost triple the 34 million Swiss francs expected previously, while the broker raises its operating profit expectations for 2021 and 2022 by 5%.

The broker justifies this adjustment in its forecasts for Swatch by its desire to "to reflect our more constructive view on demand recovery and costs as well as currency headwinds".


Copyright (c) 2020 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.