(CercleFinance.com) – Oddo BHF maintains its ‘neutral’ rating on the Hermès International share with a target price reduced from 1912 to 1858 euros.
If Oddo BHF still expects organic growth close to 10% for the group in 2024, it indicates that it is revising its 2024 and 2025 EBIT estimates downward by 3%, estimating that ‘foreign exchange and rising costs should weigh’.
‘We continue to believe that the group is not completely immune to the slowdown hitting the industry,’ underlines the broker, which indicates that its new forecasts are now more than 5% below the Visible Alpha consensus.
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