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Investment Idea: Richemont

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Investment Idea: Richemont

  • We recommend a neutral position in the PSG Wealth House View SA Equity Portfolio.
  • CFR SJ is trading at a forward P/E of approximately 31 times, which is above its five-year average and its 10-year average of approximately 21 times and 19 times, respectively; it is largely in line with its peers.
  • Despite the COVID-19 headwinds, Richemont is well-positioned, with a strong brand momentum. It continuously shows broad-based and strong top-line growth, attractive operating margins and robust cash generation.
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