Hermès: Bryan Garnier ups target price

(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Hermès International stock, raising its fair value from 500 euros to 510 euros, in a report dedicated to major European luxury sector players.


The euro's recent weakness against most other currencies, and particularly the dollar, is leading the broker to adjust its sales and earnings estimates, resulting in it raising its EPS estimates by almost 2% on average.

In comparison with Hermès, the broker maintains its "buy" recommendations on LVMH and "neutral" on Kering, with intrinsic values respectively raised from 307 euros to 316 euros and from 505 euros to 518 euros.



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