Richemont: stock up again, with brokers' backing

(CercleFinance.com) - The day after surging by more than 16% following the announcement of solid Q3 sales, Richemont shares are up a further 2% in Zurich, buoyed by favourable reactions to this publication from brokers.


UBS reiterated its 'buy' recommendation on the stock, raising its target price from 150 to 180 Swiss francs, believing that the sales figures confirmed the outperformance of the jewelry category and the the Swiss luxury group's brand leadership.

Similarly, Oddo BHF has confirmed its 'outperform' rating, with its target price raised from 136 to 177 Swiss francs, judging that with the remarkable acceleration in jewelry sales towards the end of the year, the story remains more attractive than ever within the sector.


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