Watches of Switzerland falls after Kepler Cheuvreux downgrades to 'hold'

Watches of Switzerland

13/08/2025 09:12

** Shares of British luxury watch retailer Watches of Switzerland WOSG.L down 2.4% at 334 pence

** Stock top loser on the FTSE mid-caps .FTMC index, which is up 0.4%

** Kepler Cheuvreux downgrades stock to "hold" from "buy", cuts PT to 350p from 475p amid concerns over the impact of new U.S. tariffs on Swiss products

** Watches of Switzerland sells watches from Swiss brands, including Rolex, in the United States

** Brokerage expects margin pressure as brands lower distributor margins and U.S. customers shop abroad

** "While we acknowledge the stock is not expensive, we see a period of estimate cuts as our numbers move below consensus and guidance" - brokerage

** Including session moves, WOSG down ~40% YTD, FTMC up ~6%

 (Reporting by Nithyashree R B in Bengaluru)

 ((NithyashreeRB@thomsonreuters.com))