(CercleFinance.com) – Stifel reiterates its ‘hold’ recommendation on Hermès International with a price target slightly raised from 1,230 to 1,260 euros, in the wake of a 5% increase in its EBIT (operating profit) projections for the period 2022-24.
The broker justifies this increase by ‘a large exceedance of expectations in terms of turnover in the third quarter, when the luxury group was able to decouple from sector dynamics in China and the United States’.
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