Oddo BHF reaffirms its 'outperform' opinion on Hermès International, with a 12-month price target raised from 1,555 to 1,794 euros, considering that 'the investment case remains of high quality' for the luxury house.

He raised his price target both to take account of the change in financial year and to raise his medium-term assumptions, with annual growth over 2025-28 raised by +50 bp to around +10%, and a normative margin raised by 50 bp to 39%.

Despite the fact that most of the sector's stocks, including Hermès, have risen by nearly +15% since the start of the year, the 12-month upside potential remains in double digits on the basis of our new CB", stresses the analyst in charge of the file.

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