UBS AG has reiterated its "Buy" rating for Richemont shares, despite Chinese consumers being cautious about luxury spending.
According to analyst Zuzanna Pusz, there is still demand for jewelry, but interest in handbags is declining. Dior from LVMH and Cartier from Richemont are showing signs of recovery, while Hermes is facing concerns about a potential slowdown.
During the SIX SX session, Richemont shares saw a slight decrease of 0.3 percent, reaching CHF 138.05. A total of 148,231 shares were exchanged, indicating ongoing market interest in the current economic climate.