Bernstein: Lufeng Group demonstrates its strength in the jewelry business again.

Analysts at Bernstein wrote in a client report that Richemont Group has once again emphasized the importance of maintaining momentum in its brands and the entire jewelry category. The Swiss luxury goods giant, which is the parent company of Cartier and Van Cleef & Arpels, saw a strong 11% increase in sales in the third quarter, beating expectations when calculated at fixed exchange rates. Bernstein stated that this once again proves that the comparison base is not as important as the momentum of the category and brand. The brokerage firm said, "Richemont Group is proving its ability to navigate a polarized social environment and keep both entry-level and high-end consumers engaged under the same brand." The agency maintains an outperform rating on the stock with a target price of 200 Swiss francs.