Hermes International : Not that different from the industry in Q2, we have trimmed our forecasts
>Our recent caution on the stock looks justified - While we are eminently convinced of the intrinsic merits of the franchise, we nonetheless downgraded our rating to Neutral at the start of June as we felt that its recent performance (in particular, its largely positive performance YTD) put the stock somewhat at odds with the prospect of 2020 figures that are clearly set to be severely affected by the health crisis. Our sentiment, in light of the recent contact with t...Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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