Hermès Shares Drop 1.4%: Two Analysts Lower Their Price Targets
Hermès International shares fall 1.4% in mid-morning trading to €1,585, as the CAC 40 index declines by 1.2% during the session. Two analysis firms have lowered their price targets on the luxury house this morning and yesterday. The drop brings the year-on-year decline in the stock to over 33%.
BNP Paribas Exane has reduced its price target on Hermès International from €2,650 to €2,150, while maintaining an outperform rating. The revised target still offers a theoretical potential of 35.6% compared to the current price. CICC has set a target of €1,900 with a neutral rating, down from €2,100 previously. These adjustments are part of a series of downward revisions following the first quarter revenue report. On April 15, the stock had dropped more than 10% after an announcement of a negative currency effect of €290 million and an organic growth of 6% at constant rates. UBS, Oddo BHF, and Citi had already adjusted their targets in the following days.
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The stock is trading at €1,585, very close to the lower Bollinger Band set at €1,570.92, which is about a 0.9% difference. This area corresponds to a potential oversold condition, following a decline of 21.81% over three months. The RSI is at 41, in neutral territory but trending downwards. The support level identified at €1,609 was breached during the session, having already been tested at the end of March and then lost again in mid-April. The 50-day moving average at €1,836 and the 200-day moving average at €2,062 both remain significantly above the current price, indicating a medium-term bearish trend. The luxury sector in Paris is oriented in the same direction, with LVMH down 1.76% and Christian Dior down 1.14%. The next key financial event for the group is the publication of the semi-annual results for 2026, expected on July 29.
Le modèle Hermès, fondé sur une distribution exclusive et qualitative, a une nouvelle fois porté ses fruits. Hermès aborde l’année 2026 avec confiance.
Résultats annuels 2025 solides: chiffre d’affaires de 16 002 millions d’euros, croissance à taux constants de 8,9 % et croissance à taux courants de 5,5 %. Résultat opérationnel courant de 6 569 millions d’euros (41,0 % du chiffre d’affaires) et résultat net de 4 524 millions d’euros. Cash flow disponible ajusté de 3 880 millions d’euros; trésorerie nette retraitée à 12 773 millions d’euros. Propositions de dividendes et actions nouvelles pour 2026, avec un accent sur le développement et l’emploi.
Outlook / guidance
Expected revenue: Le chiffre d’affaires 2026 est attendu en progression à taux constants sans chiffre précis communiqué.
Expected EBITDA: Non précisé dans le communiqué.
Expected net income: Non précisé dans le communiqué.
Management commentary: Perspectives positives pour 2026, grâce au modèle d’entreprise intégré et à la fidélité de la clientèle, malgré un contexte économique et géopolitique incertain.
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