Swatch: Stifel lowers its target price

(CercleFinance.com) - Stifel reaffirms its 'hold' recommendation on Swatch Group and lowers its target price from 230 to 225 Swiss francs, in the wake of lowered EBIT forecasts of 11% for 2024 and 8% for 2025, the day after the watchmaker's annual results.


The share looks cheap, but weak consumer momentum in China, the cautious behavior of wholesale partners, a strong Swiss franc and more difficult comparatives for MoonSwatch should put a lid on the stock', the broker judges.

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