Reprise de momentum réelle mais anticipée - NEURE - OC 360CHF
SWATCH, dont la publication des résultats semestriels est le seul rapport d’étapes dans l’année, n’a pas distillé de bons chiffres, en regard de l’intensité de la crise horlogère subie. Les déséquilibres entre sell in et sell off ont peiné à s’inverser et surtout le secteur manque de relais de croissance comme la Chine (Mainland) et avec elle son cortège de clients nouveaux (recrutés au sein des millenials). Si l’inversion de tendance est acquise, le retour de fortune ne se dessine que graduellement alors que le marché a déjà beaucoup anticipé… notamment par rapport aux groupes de luxe affichant actuellement un meilleur momentum de croissance. Notre objectif inchangé à 360 CHF laisse le titre sans upside.Swatch Group is active in finished watches and jewelry sector with 20 brands in all market and price brackets. In addition, Co. is engaged in the sector of watch movements and components production as well as in the electronic systems sector. Co.'s operations can be divided into two segments: Watches & Jewelry, which is engaged in the production and sale of watches and jewelry; and Electronic Systems, which is engaged in the design, production and commercialization of electronic components, sports timing activities. Co. manufactures and sells watches under the following brands, among others: Breguet, Harry Winston, Blancpain, Glashutte Original, Jaquet Droz, Leon Hatot, and Omega.
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