Compagnie Financiere Richemont SA Class A

CFR: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Richemont Earnings: Resilience in Jewelry, but Margins Pressured; Shares Attractive

Jelena Sokolova

Nov 8, 2024

We are maintaining our fair value estimate of CHF 154 for wide-moat Richemont as we incorporate slower revenue development and profit pressures during 2024 in our models. However, the hit from this is offset by time value of money and our long-term forecasts for the stock remain intact. We view shares as attractive as we believe current weakness is cyclical.

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Compagnie Financiere Richemont SA Class A

Richemont Earnings: Resilience in Jewelry, but Margins Pressured; Shares Attractive

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