(CercleFinance.com) – Stifel reaffirms its ‘hold’ recommendation on Swatch with a price target revised to 310 Swiss francs, following the publication by the Swiss watchmaker of better-than-expected results for its first accounting quarter, last Thursday.
The broker raised its operating profit (EBIT) estimate for the 2023-25 period by 4%, ‘due to higher organic growth and margin assumptions which more than offset a stronger currency headwind’.
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