Richemont: UBS raises target price

(CercleFinance.com) - UBS reiterates its 'buy' recommendation on Richemont shares, raising its target price for them from 150 CHF to 180 CHF, now representing 11% upside potential for the Swiss luxury group's stock, which owns Cartier watches, amongst other brands.


Q3 sales confirmed the jewelry category's outperformance and the leadership of Richemont's brands, the broker says, which says that the stock is still a first choice.


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