Watches of Switzerland surged on Wednesday after Goldman Sachs upgraded the shares to ‘buy’ from ‘neutral’.
GS famous the share value has fallen by 40% year-to-date, underperforming the luxurious sector by 11% and the final retail sector by 2%.
“We expect Watches of Switzerland to have a relatively more resilient sales profile than peers, due to its high exposure to waitlisted products, which is underestimated by the market, in our view,” it mentioned.
“We look for a 16% revenue compound annual growth rate in FY22-26E. With 55% upside to our new 1,330p 12-month price target (up circa 5% from 1,265p), we see the risk-reward profile as attractive and upgrade the stock.”
At 1600 BST, the shares have been up 7.8% at 924p.
Goldman ups Watches of Switzerland to ‘purchase’, shares surge & More Latest News Update
Goldman ups Watches of Switzerland to ‘purchase’, shares surge & More Live News
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Goldman ups Watches of Switzerland to ‘purchase’, shares surge & More News Today
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