(CercleFinance.com) – Richemont published for its financial year ended at the end of March, a result up 61% to 2.08 billion euros, as well as an operating margin improving by 6.5 points to 17, 7%. At nearly 19.2 billion euros, its turnover increased by 46% (+44% at constant exchange rates).
Following this announcement, UBS confirms its advice to buy the stock with a target price of 151 Swiss francs.
‘We looked at the main investor reactions following last week’s ‘seemingly disappointing’ FY22 results. CFR remains our best choice,” says UBS.
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