(CercleFinance.com) – Hermès rose on the stock market on Monday, after a note from Bernstein in which the analysts of the investment firm raised their target on the value.
Around 12:15 p.m., the title of the luxury house took 0.8% while the CAC 40 advanced at the same time by 0.1%.
In a note devoted to luxury, Bernstein indicates that it has revised upwards its earnings forecasts for the main players in the sector after a first half that they consider particularly successful.
Regarding Hermès, the intermediary indicates that it has raised its target price from 1180 to 1303 euros, while maintaining its ‘market performance’ opinion on the title.
Bernstein notes that the ‘YOLO’ (‘you only live once’) philosophy that characterizes today’s high-end consumer has resulted in a groundswell that has benefited the luxury sector.
If he expects a normalization of this effect, the analyst says he predicts a “gradual” slowdown process, which will depend a lot – according to him – on the evolution of the Chinese market and the consequences of the Covid epidemic. .
Bernstein notes that the Hermès stock is now trading at levels 42% above its lows for the year.