(CercleFinance.com) – The stock ended the day down almost 1.6% on the Zurich Stock Exchange.
While confirming its ‘hold’ recommendation on Swatch Group, Stifel lowers its price target from 250 to 230 Swiss francs, in the wake of a reduction in its sales and EPS estimates due to the appreciation of the Swiss franc.
The broker’s new 2024-25 EPS estimates are around 9% below those of the consensus, but at 12.5 times its expected EPS for 2024, the Swiss watchmaker’s stock seems cheap.
According to Stifel, the stock ‘lacks catalysts for a revaluation due to the combination of slowing or normalizing growth, negative earnings dynamics and a weak consumer environment in China’
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