(News Bulletin 247) – Invest Securities reaffirms its ‘buy’ recommendation on Swatch with a price target raised from 310 to 351 Swiss francs, the day after the results of the watch manufacturer, which ‘confirmed the trends for the whole of 2022 displayed in the first semester’.

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‘Proof of an improved compromise in terms of the balance of activity by branch and by zone, the group has withstood the deterioration of its performance in China’, underlines in particular the analyst in charge of the file.

“Swatch has a comfortable cash surplus and is paying 1.25 times its hard equity, which is almost to be considered an anomaly”, he adds, also pointing to sensitivity to market risk (rate) relativized by the swiss made with controlled inflation.

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