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ubs raises richemont price target following strong annual results
UBS has raised its price target for Richemont from CHF 171 to CHF 181, reflecting a 9% upside potential. This adjustment follows the luxury group's strong annual results, particularly highlighting robust sales growth in the jewelry category amid ongoing 'luxury fatigue' affecting competitors.
ubs raises richemont price target following strong annual results
UBS has raised its price target for Richemont from 171 to 181 Swiss francs, maintaining a 'buy' recommendation. This adjustment follows the luxury group's strong annual results, highlighting better-than-expected sales growth in the fourth quarter, particularly in the jewelry category, amid ongoing 'luxury fatigue' affecting competitors.
Richemont reports increased sales and dividend boost driven by jewelry business
The Geneva-based jewelry and watch group Richemont reported slightly higher sales, driven primarily by its jewelry business, leading to a positive market reaction. Meanwhile, Coinbase faced pressure following a hacker attack, offering a $20 million reward for information on the perpetrators. Swiss Re increased its quarterly profit despite significant losses from wildfires, while BLKB is launching a sustainable real estate fund focused on Northwestern Switzerland, aiming to raise up to CHF 160 million.
Swiss stock market gains as economic cyclicals and insurers perform well
Swiss equities showed resilience on Tuesday, with the SMI rising 1% to 11,610 points amid a generally positive market sentiment despite ongoing US tariff disputes. Among the 20 SMI stocks, 15 gained, led by economic cyclicals like ABB, Geberit, and Holcim, while Swiss Re and UBS faced declines due to dividend adjustments. Disappointing results from LVMH negatively impacted Richemont and Swatch shares.
ubs maintains neutral stance on kering amid tariff concerns
UBS has maintained a "Neutral" rating on Kering, noting that European luxury goods manufacturers are likely to pass on new US tariff costs to consumers through price increases. Analyst Zuzanna Pusz warns that the risk from declining consumer sentiment is significant, with customs duties potentially reducing operating results by an average of 7%. Kering, along with Moncler, Hermes, Prada, LVMH, and Richemont, is expected to face the least impact, while Salvatore Ferragamo, Swatch, and Burberry may be more affected.
ubs maintains buy rating on richemont amid tariff concerns
UBS has maintained a "Buy" rating on Richemont, noting that European luxury goods manufacturers are likely to pass on new US tariff costs to consumers through price increases. Analyst Zuzanna Pusz highlights that the risk from declining consumer sentiment is more significant, with customs duties potentially reducing operating results by an average of 7%. The impact is expected to be lowest for brands like Richemont, LVMH, and Hermes, while Salvatore Ferragamo, Swatch, and Burberry face the highest risks.
Swiss stock market drops 2 percent amid US tariff concerns
The Swiss stock market fell by 2.09% amid escalating trade tensions following U.S. tariffs, with the SMI index dropping to 12,324.76 points. The technology sector was particularly hard hit, with Logitech down 12%, while UBS in the financial sector also faced a 5% decline. Defensive stocks like Nestlé and Novartis provided some support, but overall losses were significant.
watches and wonders show opens amid concerns over luxury market slowdown
The Watches & Wonders show in Geneva, featuring 60 brands including Bulgari, Rolex, and Cartier, faces uncertainty amid weak sales and stock market volatility linked to U.S. politics. While Swiss watch exports fell 2.8% in 2024, high-end segments showed resilience, with analysts predicting a mixed outlook for the industry.
us markets decline amid tariff fears and geopolitical tensions as gold surges
US markets are under pressure as fears of a trade war escalate with President Trump's impending tariffs affecting all countries. The Dow Jones and Nasdaq 100 indices have seen significant declines, while gold prices soar amid geopolitical tensions. Vaccine stocks also suffered, with Moderna and Biontech experiencing sharp losses.
UBS AG has upgraded its price target for Richemont shares from 180 to 184 francs, maintaining a "Buy" rating ahead of the company's quarterly results. Despite a challenging industry environment, the jewelry segment is expected to outperform competitors. Currently, Richemont shares are trading at CHF 158.80, reflecting a potential upside of 15.87% based on the new target.
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