Hermès Intl.: 2013 EBIT upgraded by 3%

NEUTRAL, Fair Value EUR200 vs. EUR194 (-23%)

News published on March Friday 22, 2013
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Following the better than expected 2012 profit and a good beginning to 2013 (around 10% for January and February according to the management), we upgrade our 2013 EBIT by 3%. Our fair Value is also increased at EUR200 vs EUR194 previously. Neutral recommendation unchanged.

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