Compagnie Financière Richemont (OTCMKTS:CFRUY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm presently has a $17.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.11% from the company’s previous close.
According to Zacks, “Compagnie Financière Richemont SA, with its subsidiaries designs, develops, manufactures and sells luxury goods in Europe, Asia-Pacific, Americas and Japan. Richemont operates in five key areas: jewellery, watches, writing instruments, leather and accessories, and clothing. The Group’s luxury interests encompass several of the most prestigious names in the luxury industry including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc. Compagnie Financière Richemont SA is headquartered in Geneva, Switzerland. “
Several other analysts also recently weighed in on CFRUY. Barclays assumed coverage on shares of Compagnie Financière Richemont in a report on Tuesday, September 21st. They issued an “overweight” rating for the company. Morgan Stanley reiterated an “overweight” rating on shares of Compagnie Financière Richemont in a report on Monday, November 15th. Credit Suisse Group reiterated a “neutral” rating on shares of Compagnie Financière Richemont in a report on Monday, November 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Compagnie Financière Richemont in a report on Monday, November 15th. Finally, Oddo Bhf upgraded shares of Compagnie Financière Richemont from an “underperform” rating to a “neutral” rating in a research note on Friday, September 24th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.00.
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Shares of OTCMKTS CFRUY traded up $0.08 during midday trading on Monday, reaching $15.03. 145,124 shares of the stock were exchanged, compared to its average volume of 288,101. The company has a 50 day simple moving average of $14.28 and a 200 day simple moving average of $12.59. Compagnie Financière Richemont has a twelve month low of $8.88 and a twelve month high of $15.67.
Compagnie Financière Richemont Company Profile
Compagnie Financière Richemont SA engages in the design, manufacture, and distribution of luxury goods. It operates through the following segments: Jewellery Maisons, Specialist Watchmakers, Online Distributors, and Other. The Jewellery Maisons segment produces jewellery products which include Cartier and Van Cleef & Arpels.
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