(CercleFinance.com) – The analyst indicates that he is underperforming on the stock with a price target of E355 following the announcement last night of the figures for the 1st quarter of 2023.
First quarter revenue came in well ahead at 9.4% compared to Alpha Value’s consensus of 6.0%. The Luxury division slightly missed expectations but was more than compensated by continued growth in the Consumer Products business,’ indicates the analysis office.
‘Growth in North Asia was also weak at -1.1%, but was more than offset by a 500 basis point improvement over consensus in Europe,’ adds Jefferies.
‘This result should lead to a strong positive reaction from stocks.’
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