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via finance.yahoo.comBusiness & Companies

Berenberg downgrades Hermès to hold and cuts target as growth edge fades

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Berenberg cut luxury goods maker Hermès International SCA to "hold" from "buy" and lowered its price target to €1,230 from €1,850, saying the company has lost its double-digit growth premium over LVMH in key regions. Still guessing which stocks will beat the…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe downgrade and target cut on a luxury leader can weigh on the stock and the sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Berenberg cut to hold from buy and lowered its target to 1,230 euros from 1,850.
  2. 02Third-quarter revenue was 4.10 billion euros versus 4.12 billion consensus.
  3. 03Constant currency growth was 4.3% versus 5.2% expected, missing for a third straight quarter.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Hermès International S.C.A.RMS.PAStock1,256.50 EUR+0.36%today -2.56%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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