(CercleFinance.com) – The analyst underlines that the group achieved a turnover higher than forecast (19.2 billion euros against 18.7 billion euros for Jefferies and 18.8 billion euros for consensus) but a net shortfall in EBIT (3.4 billion euros against 3.8 billion euros for jefferies and consensus).
Following this announcement, Jefferies confirms its buy advice with a target price of 140 CHF.
Jefferies indicates that for the Watches business, the turnover of 3.4 billion euros is slightly higher, the EBIT of 0.6 billion euros or 17.3% is insufficient (jefferies 20%) .
‘In the fourth quarter, Europe grew by 43%, the Americas by 46%, Asia-Pacific by 8%, jewelry by 25% and watches by 41%’ also indicates the analyst.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
