Analyst Francesca Di Pasquantonio of Deutsche Bank maintains her "buy" rating on Swatch Group AG (UHR.ETR). The target price has been raised from CHF387 to CHF400.

In a research note published this morning, the analyst mentions that the global demand for luxury watches is robust, especially from the emerging Asian and Russian markets. The continuing robust momentum in the Omega brand is underpinned further by the 2008 Olympics, the analyst says. Given Swatch’s healthy geographical mix, the company is likely to achieve healthy growth, almost in the double digits, going forward, Deutsche Bank adds.