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Investing.com - Deutsche Bank upgraded Compagnie Financiere Richemont SA (SIX:CFR) stock rating from Hold to Buy and raised its price target to CHF195 from CHF180 as part of its Luxury Outlook 2026 report released Monday.
The bank also adjusted targets for other luxury brands, maintaining a Buy rating on Hermes International SCA (EPA:HRMS) while slightly lowering its target to EUR2400 from EUR2420, and keeping LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) at Buy with a significant target increase to EUR715 from EUR635.
Deutsche Bank forecasts 2026 as a year of "converging growth trends" across the luxury sector, with only about a 5 percentage point gap expected between the highest and lowest performing companies in its coverage universe, compared to much wider disparities in recent years.
The bank views luxury brands as "well positioned for accelerating growth throughout 2026" despite headwinds in other consumer sectors, though it does not expect growth to return to pre-pandemic levels in the mid-term.
Deutsche Bank maintains LVMH and Burberry as "Most Preferred" stocks and adds Richemont to this list, citing "stronger-than-expected sales growth," while designating Kering and Moncler as "Least Preferred" due to "high expectations for growth and risks to earnings expectations" in 2026.