Hermès stock plummets 14% in one month, two brokers cut their price targets
The Parisian leather goods maker holds steady on Wednesday in an almost flat CAC 40, but the decline of recent weeks has left deep marks. Two research firms lowered their price targets in recent days, confirming deterioration in sentiment on the stock.
Two target revisions in two days weigh on the stock's trajectory
Hermès International falls 0.15% to €1,353 in trading, virtually flat in a Paris index that is itself unchanged (+0.06%). This apparent calm contrasts with a monthly decline of nearly 14% and a drop of over 36% on a yearly basis, reflecting marked deterioration over these longer time horizons. Analyst opinions have deteriorated in recent sessions: RBC Capital lowered its target from €1,700 to €1,600 on September 22, maintaining its "market perform" rating.
Oddo BHF was more severe on September 21, cutting its target from €1,627 to €1,470 with a "neutral" rating. These two new targets both remain close to the current price, without offering significant upside potential: Oddo's target is even slightly below recent levels, reflecting stated caution on the group's valuation.
A support level at €1,331.50 as last bastion against an RSI still in oversold territory
From a technical indicators perspective, the stock remains depressed below its three moving averages. The price (€1,353) is trading 6.98% below the 20-day MA (€1,454.60), 12.62% below the 50-day MA (€1,548.41), and 23.59% below the 200-day MA (€1,770.75). The RSI at 32 is flirting with oversold territory, without crossing the 30 threshold: selling pressure remains strong but is not intensifying further for now. The nearest support level is identified at €1,331.50, slightly less than 2% below the current price.
This level had already been breached during the September 21 low of €1,298.50, reached during a session that marked an unprecedented low since 2022. The upper resistance stands at €1,643.50, nearly 21% above the current price, making a return to these levels dependent on a fundamental trend reversal. Upon publication of first-half 2026 results (July 29, 2026), Hermès highlighted the opening of its sixth Maison in London and the ramp-up of its leather goods production capacity, while signaling an unfavorable currency impact of over €360 million on semi-annual revenue. The €1,331.50 support level remains the technical level to watch in the short term.
