NEW YORK — Swiss luxury goods group Richemont maintained its upward momentum in analyst coverage on Thursday after Bernstein Research reiterated an 'Outperform' rating and set a price target of 240 Swiss francs.
Analyst Luca Solca framed the outlook against mixed regional demand trends, noting that robust U.S. watch exports had offset weakness in China. The assessment drew on the latest Swiss watch export data, which showed double-digit percentage gains in U.S. shipments over the past three months despite a broader slowdown in Chinese consumer spending on high-end goods.
The firm acknowledged persistent macroeconomic risks facing the luxury sector, including elevated oil prices, persistent inflationary pressures and the potential for renewed trade disruptions. These factors could prolong a gradual and uneven recovery in global demand, according to the note.
Bernstein’s rating and target imply a potential upside of approximately 15% from Richemont’s closing price of CHF 209.50 on Wednesday, based on the most recent trading session. The stock has gained roughly 8% year-to-date through mid-August, underperforming the broader Swiss equity market but remaining resilient amid broader sector volatility.
Richemont, which owns brands including Cartier and Jaeger-LeCoultre, has faced mixed trading conditions in 2026, with strong momentum in the Americas contrasting with softer performance in Greater China. Analysts at Bernstein highlighted that while U.S. consumers continued to prioritize luxury purchases, Chinese demand remained constrained by economic uncertainty and shifting consumer preferences.
The firm’s latest assessment comes as global luxury stocks navigate a complex macroeconomic environment marked by high interest rates, geopolitical tensions and uneven consumer confidence across key markets.
