In a report released today, Oliver Chen from TD Cowen reiterated a Buy rating on Compagnie Financiere Richemont SA, with a price target of CHF210.00.
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Oliver Chen has given his Buy rating due to a combination of factors including Richemont’s strong performance in the jewelry sector, particularly with brands like Cartier and Van Cleef, which have shown impressive sales growth. The company’s jewelry division has consistently outperformed other luxury segments, demonstrating resilience and the ability to capitalize on the wealth effect benefiting high-income consumers.
Chen also highlights Richemont’s strategic focus on expanding and upgrading their network of Jewelry Maisons, which includes opening new boutiques in key locations. Despite acknowledging potential risks such as currency fluctuations and tariff impacts, Chen believes that Richemont’s emphasis on hard luxury and its strategic initiatives position it as a relative outperformer in the luxury market. The company’s efforts in product innovation and selective price increases are seen as key catalysts for continued success.
In another report released today, Bernstein also maintained a Buy rating on the stock with a CHF190.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CFR in relation to earlier this year.