RBC reduces target for Swatch Group stock to CHF 190.00

Published on 10/02/2026 at 12:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached CHF 3.12 billion versus CHF 3.55 billion forecast. Swatch Group stock costs EUR 198.13 on October 2, 2026 versus EUR 197.73.

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Swatch Group stock was trading at EUR 198.13 at Lang & Schwarz on October 2, 2026 at 12:12 p.m. CEST, up 0.20 percent versus the prior close of EUR 197.73. According to Investing.com on September 22, 2026, RBC Capital maintained a Hold rating while reducing its price target from CHF 210.00 to CHF 190.00.

RBC trims target to CHF 190.00

The RBC move leaves the target below the CHF 223.10 52-week high and above the CHF 148.35 low recorded in the latest market quotation. That spread shows why the current debate centers on earnings recovery rather than on the stock's position within its yearly range.

Investing.com lists revenue of CHF 3.12 billion for the first half of 2026 against a CHF 3.55 billion forecast. The CHF 430.00 million gap between reported revenue and forecast is the clearest quantified counterweight to the positive sales narrative.

Revenue improves but trails forecast

The reporting period ended June 30, 2026, and Swatch Group's investor page describes the half-year release as showing strong sales growth and market-share gains. The company also reported net sales of CHF 6.28 billion for fiscal 2025, down 1.30 percent at constant exchange rates from the prior year, giving the latest interim revenue figure a tougher historical backdrop.

Swatch Group operates across watches, jewelry, movements and components, with brands including Omega, Longines, Tissot and Swatch. Its vertically integrated structure connects brand sales with manufacturing capacity, so the next earnings update will matter for both revenue conversion and operating leverage.

CHF range keeps valuation debate open

The Swatch Group market capitalization stood at CHF 9.6 billion on October 2, 2026. On SIX, the primary listing was last at CHF 184.55 on October 2, 2026 at 12:04 p.m. CEST, while the 52-week range ran from CHF 148.35 to CHF 223.10. The separate euro quotation was higher than the prior close by 0.20 percent, keeping the session direction neutral rather than signaling a major repricing.

Swatch Group's financial calendar lists publication of the 2027 key figures in February 2027, with the exact date to be confirmed on its investor-relations page. The company reported 31,800 employees and fiscal 2025 net sales of CHF 6.28 billion, anchoring the valuation discussion in a business with substantial manufacturing and retail operations.

Swatch Group stock stays near CHF 185

At Lang & Schwarz, Swatch Group stock was trading at EUR 198.13 on October 2, 2026 at 12:12 p.m. CEST, plus 0.20 percent versus the EUR 197.73 prior close. The further course of trading is shown by the continuously updated real-time quote of Swatch Group stock.