By Michele Maatouk
Date: Wednesday 11 May 2022
LONDON (ShareCast) - (Sharecast News) - Watches of Switzerland surged on Wednesday after Goldman Sachs upgraded the shares to 'buy' from 'neutral'.
GS noted the share price has fallen by 40% year-to-date, underperforming the luxury sector by 11% and the general retail sector by 2%.
"We expect Watches of Switzerland to have a relatively more resilient sales profile than peers, due to its high exposure to waitlisted products, which is underestimated by the market, in our view," it said.
"We look for a 16% revenue compound annual growth rate in FY22-26E. With 55% upside to our new 1,330p 12-month price target (up circa 5% from 1,265p), we see the risk-reward profile as attractive and upgrade the stock."
At 1600 BST, the shares were up 7.8% at 924p.
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Currency | UK Pounds |
Share Price | 406.40p |
Change Today | 1.40p |
% Change | 0.35 % |
52 Week High | 756.00p |
52 Week Low | 325.00p |
Volume | 1,537,182 |
Shares Issued | 239.57m |
Market Cap | £973.61m |
RiskGrade | 202 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
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No dividends found |
Time | Volume / Share Price |
17:07 | 3,500 @ 406.40p |
16:35 | 616,253 @ 406.40p |
16:35 | 236 @ 406.40p |
16:35 | 125 @ 406.40p |
16:35 | 125 @ 406.40p |
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