Compagnie Financiere Richemont SA Class A

CFR: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 382.00	Trh	Qrbygphdq

Richemont's Sales Growth Very Strong but Profitability Development Disappointing; Shares Attractive

Jelena Sokolova

May 20, 2022

We maintain our CHF 123 fair value estimate for wide-moat Richemont after the company reported stronger annual sales but weaker profitability for fiscal 2022 than we and consensus expected. We believe the recent share price pullback presents an interesting opportunity to build a position in this high-quality company.

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