Barclays on Wednesday lowered its price target for Hermès shares from 2410 to 2320 euros, while maintaining its 'overweight' recommendation on the stock.

In a research note, the analyst indicates that he has lowered his earnings forecasts for the luxury house, which he does not consider immune to the slowdown in demand, against a backdrop of difficulties in China and an unfavorable base effect.

Despite this difficult environment for the luxury sector, the intermediary nevertheless expects Hermès to continue to outperform the market, even if it only expects organic growth of 11% in the second quarter, compared with +17% in Q2.

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