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 and CICC Lower Their Targets
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…
