(CercleFinance.com) – Jefferies on Monday initiated coverage of the Richemont share to ‘buy’ with a price target set at 140 Swiss francs within a 12-month horizon.
The American broker says it expects the Swiss group to continue to focus all its attention on the ‘hard luxury’ segment (high jewelry and luxury watches), with the key to market share gains for its brand- flagship Cartier, which the broker alone values at 88 euros per title.
According to Jefferies, the procrastination that currently surrounds the fate of the online sales subsidiary Yoox Net-a-Porter is only a temporary ‘distraction’, called according to him to be settled in the near future.
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