HERMÈS : Stifel raises its target price
Average pricing decelerates in 2024 for the sector, but accelerates for Hermès from +7% in 2023 to +8-9% in 2024, further strengthening its earnings visibility", the broker highlights in the summary of its note.
Stifel remains 'tactically constructive on Hermès, given its proven defensive attributes tending to shine when sector growth decelerates', which it expects to be particularly pronounced during the first-quarter earnings season.
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