(News Bulletin 247) – Invest Securities maintains its ‘sell’ advice on the Hermès share, with a price target raised from 1,030 to 1,385 euros.
According to the analyst, “Hermès achieved a 2022 financial year which reinforces its uniqueness by the quality of the results obtained, especially their regularity, which contrasts with a certain volatility of performance within the sector”.
The consensus projected an operating result of 4.55 billion euros and an NR of 3.2 billion euros, where Hermès posted an EBIT of 4.7 billion euros (+33%) and an NR of 3.4 billion euros (+38%).
Nevertheless, ‘late or not on the consensus, we always come up against the same problem of an evaluation that we are unable to justify’, indicates Invest.
‘The constrained management of scarcity in leather goods is a factor limiting production and therefore demand, but above all it does not really seem to us to be in tune with the times’, he concludes.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
