Barclays raised its price target for Hermès on Thursday, from €1,525 to €1,574, as part of a study of the European luxury goods sector.

The analyst - who maintains his 'overweight' recommendation on the stock - explains that he expects the sector to show a degree of 'resilience' in 2023, despite the many risks associated with the economic climate.

According to its forecasts, the sector should generate growth of 9% this year, supported by the reopening of the Chinese economy and the possibility of a "soft landing" for growth in the USA and Europe.

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