While maintaining its 'keep' recommendation on Hermès, Stifel has raised its target price from €1950 to €2100, in the wake of EBIT forecasts for 2024-25 raised by 4% following the annual results unveiled by the luxury house last week.

Average pricing decelerates in 2024 for the sector, but accelerates for Hermès from +7% in 2023 to +8-9% in 2024, further strengthening its earnings visibility", the broker highlights in the summary of its note.

Stifel remains 'tactically constructive on Hermès, given its proven defensive attributes tending to shine when sector growth decelerates', which it expects to be particularly pronounced during the first-quarter earnings season.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.