UBS downgrades Hermès International stock over more cyclical demand
Published on 10/14/2026 at 12:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSDemand concerns shape valuation
- UBS changed its Hermès view on October 5, 2026, cutting the target from EUR 1,695.00 to EUR 1,168.00.
- Second-quarter 2026 revenue reached EUR 4.094 billion, with growth of 4.80 percent.
- Hermès International stock traded at EUR 1,305.50 at 12:06 p.m. CEST at Lang & Schwarz on October 14, 2026.
- Third-quarter 2026 revenue is scheduled for October 22, 2026.
Hermès International (ISIN FR0000052292) was trading at EUR 1,305.50 at Lang & Schwarz on October 14, 2026, at 12:06 p.m. CEST. The latest material analyst signal came on October 5, 2026, when UBS downgraded the luxury group from neutral to sell and cut its 12-month target from EUR 1,695.00 to EUR 1,168.00, according to Yahoo Finance.
Why did UBS cut its target?
UBS argued that Hermès' growing scale could reduce scarcity and make demand more cyclical. The bank also reduced its 2027 earnings-per-share forecast to EUR 43.98, which was 11.00 percent below its consensus reference of EUR 49.22, while forecasting a 38.30 percent operating margin for 2027, according to Yahoo Finance.
The counterpoint is the company's still substantial earnings base. Hermès reported second-quarter 2026 revenue of EUR 4.094 billion, up 4.80 percent, with leather goods and saddlery rising 10.20 percent at constant exchange rates, according to Ideal Investor. That mix gives investors a measurable test for whether slower growth is broadening beyond weaker categories.
Three dates frame the stock
On July 29, 2026, Hermès reported first-half revenue of EUR 8.20 billion, with growth of 6.00 percent in the first quarter and 7.00 percent in the second, as reported by GlobeNewswire. On October 5, 2026, UBS cut its target to EUR 1,168.00, and on October 13, 2026, Hermès reported 105,569,412 shares outstanding in a release carried by GlobeNewswire.
What date comes next?
Hermès is scheduled to present third-quarter 2026 revenue on October 22, 2026, according to the company's financial calendar at Hermès Finance. The release will provide the next quantified test of the slower-growth thesis.
Valuation remains the pressure point
Hermès had a market capitalization of EUR 137.1 billion and a 52-week range of EUR 1,255.00 to EUR 2,300.00 as of October 14, 2026. Its current price therefore sits 43.24 percent below the 52-week high, while the UBS target remains below the Lang & Schwarz quote.
The stock was trading at EUR 1,305.50 at Lang & Schwarz on October 14, 2026, at 12:06 p.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 S.C.A.
- ISIN: FR0000052292
- Ticker: RMS
- Primary exchange: Euronext Paris
- Price Lang & Schwarz (as of October 14, 2026, 12:06 p.m. CEST): EUR 1,305.50
- Market capitalization: EUR 137.1 billion (as of October 14, 2026)
- 52-week range: EUR 1,255.00-EUR 2,300.00 (as of October 14, 2026)
- Sector: Consumer Discretionary
- Index membership: CAC 40
Market context: Market report CAC 40.
