Goldman Sachs starts Sell rating for Swatch Group stock

Published on 10/06/2026 at 14:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs set CHF 174.00 on October 5, 2026. Swatch Group stock costs EUR 197.28 on October 6, 2026, plus 0.32 percent versus EUR 196.65.

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Swatch Group stock (ISIN CH0012255151) was trading at EUR 197.28 at Lang & Schwarz on October 6, 2026 at 2:42 p.m. CEST, up 0.32 percent from the EUR 196.65 prior close. On October 5, 2026, Goldman Sachs analyst Erwan Rambourg initiated coverage with a Sell rating and set a CHF 174.00 price target, according to Markets Insider.

Goldman target sits below SIX price

The Goldman Sachs target is CHF 174.00, while the primary SIX quote was last at CHF 184.80 on October 6, 2026 at 2:32 p.m. CEST. That places the target 5.84 percent below the SIX price, a sharper contrast than the modest 0.32 percent gain in the euro quote from Lang & Schwarz.

The rating also adds a valuation counterweight to the recent operating recovery. Markets Insider reported that Goldman Sachs cited the company commitment to maintaining production capacity despite lower demand, which affected inventory levels and margins.

First-half sales rose 2 percent

Swatch Group reported revenue of CHF 3.12 billion in the first half of 2026, up 2 percent from CHF 3.06 billion in the first half of 2025. Net income was CHF 16.00 million, down from CHF 17.00 million a year earlier, according to Smart-Lab.

The mix matters for the stock. Revenue expanded, but the CHF 1.00 million decline in first-half net income shows that sales growth has not yet translated into stronger earnings. The company said its sales increase covered all continents, with the first-half report dated July 21, 2026.

Market value remains below yearly high

The Swatch Group market capitalization stood at CHF 9.6 billion on October 6, 2026. Its primary-exchange 52-week range was CHF 150.70 to CHF 223.10, leaving the SIX price CHF 38.30 below the high and CHF 34.10 above the low.

The company designs and sells finished watches, jewelry, movements and components across its Watches and Jewelry and Electronic Systems divisions. Its 2025 net sales were CHF 6.28 billion, according to the Swatch Group investor page.

Euro quote holds above prior close

The Lang & Schwarz quote was EUR 197.28 on October 6, 2026 at 2:42 p.m. CEST, plus 0.32 percent versus the EUR 196.65 prior close. The further course of trading is shown by the continuously updated real-time quote of Swatch Group stock.