UBS confirms its buy recommendation on the stock and raises its price target to E2753 (from E2508), representing upside potential of 16%.

' We expect Hermès to record a good start to 2024 with sales growth and continued momentum in Asia, despite persistent concerns in China, defying the complex context of the sector ' says the analyst firm.

In the medium term, despite economic, geopolitical and monetary uncertainties around the world, Hermès confirms an ambitious sales growth target at constant exchange rates, and says it is 'approaching 2024 with confidence', the group said.

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