Berenberg cuts Hermès target. Hermès International stock gains 3.12 percent
Published on 10/26/2026 at 09:54 | Editorial responsibility: Rafael MĂĽller, Editor-in-Chief AD HOC NEWSAnalyst reset meets resilient sales
- Berenberg cut its Hermès target from EUR 1,850 to EUR 1,230 on October 23, 2026.
- Third-quarter revenue reached EUR 4.096 billion, up 4.30 percent at constant exchange rates.
- Hermès International stock trades at EUR 1,273.50 at 9:45 a.m. CEST at Lang & Schwarz on October 26, 2026, 3.12 percent above the Xetra close of October 23, 2026.
- Annual 2026 results are scheduled for February 12, 2027.
Hermès International (ISIN FR0000052292) stock was trading at EUR 1,273.50 at Lang & Schwarz on October 26, 2026 at 9:45 a.m. CEST, up 3.12 percent versus the Xetra close of October 23, 2026. On October 23, 2026, Berenberg cut its rating from Buy to Hold and lowered its price target from EUR 1,850 to EUR 1,230, according to MarketScreener.
Why did Berenberg cut its target?
The target reduction followed Hermès' third-quarter trading update and reflected concerns about weaker demand in China, slower growth outside leather goods and a more cautious luxury backdrop. Berenberg's move came after the company reported nine-month revenue of EUR 12.3 billion for the period ended September 30, 2026, up 6.00 percent at constant exchange rates and 3.00 percent at current exchange rates, according to GlobeNewswire.
Third-quarter growth splits the business
Quarterly revenue reached EUR 4.096 billion in the third quarter of 2026, up 4.30 percent at constant exchange rates from the third quarter of 2025. That was below the 5.20 percent growth expected by analysts, according to WWD. Leather goods and saddlery grew 10.80 percent at constant exchange rates, while ready-to-wear and accessories declined 2.00 percent and watches fell 6.00 percent.
Three dates frame the reset
On October 19, 2026, Bernstein maintained a Buy rating and a EUR 1,750.00 target, as reported by MarketScreener. On October 22, 2026, Hermès published third-quarter revenue of EUR 4.096 billion. On October 23, 2026, Berenberg reduced its target to EUR 1,230.00.
What comes next for Hermès?
Hermès is scheduled to publish its 2026 annual results on February 12, 2027, followed by first-quarter 2027 revenue on April 22, 2027, according to the company's financial calendar published with the third-quarter report. The next checkpoints will test whether leather goods growth can offset weaker performance in watches and accessories.
Stock trades above the Xetra close
The early indication puts Hermès 3.12 percent above the EUR 1,235.00 Xetra close of October 23, 2026. The reference price is EUR 1,273.50 at Lang & Schwarz on October 26, 2026 at 9:45 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Hermès International stock.
Hermès International stock facts
- Company: Hermès International Société en commandite par actions
- ISIN: FR0000052292
- Ticker: RMS
- Primary exchange: Euronext Paris
- Price Lang & Schwarz (as of October 26, 2026, 9:45 a.m. CEST): EUR 1,273.50
- Change versus Xetra close: plus 3.12 percent
- Xetra close (October 23, 2026): EUR 1,235.00
- Market capitalization: EUR 133.4 billion (as of October 26, 2026)
- 52-week range: EUR 1,228.00-2,276.00 (as of October 26, 2026)
- Sector / Industry: Consumer Cyclical / Luxury Goods
Market context: Market report CAC 40.
