(CercleFinance.com) – Hermès drops more than 3% and thus underperforms the CAC40 against the backdrop of a deterioration of opinion at Oddo BHF from ‘outperformance’ to ‘neutral’, given a revision of its target of price from 2100 to 1967 euros on the title of the Parisian luxury house.
‘We are not discussing the resilient nature of the value, but at these levels of expectations and valuation, the stock becomes more exposed to the slowdown in the sector’, estimates the analyst in a note on European luxury stocks.
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