UBS has increased its price target for Hermès from 2390 to 2515 euros, maintaining a "Buy" rating. Analyst Zuzanna Pusz noted that while the last quarter was unremarkable for the luxury brand, the results were encouraging amid recent industry trends, prompting raised earnings estimates for 2025 and 2026.
UBS has upgraded Hermès to a 'Buy' rating with a target price of 2390 euros following the release of third-quarter sales figures, which met consensus estimates. Analyst Zuzanna Pusz noted that the luxury goods group's revenue performance was broadly in line with expectations. As of October 24, 2024, Hermès shares were trading at approximately 2.082 euros, reflecting a 1.12% increase.
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