LVMH: Oddo BHF still a buyer

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on LVMH shares, with an unchanged target price of E698.


The short-term outlook is likely to remain gloomy, but the potential for unpleasant surprises now seems limited, based on our latest forecasts, the analyst says.

Oddo BHF also believes that the lesser importance of China in the Q4 sales of the group's main divisions gives reason to hope for a very slight improvement in growth after the -3% observed in Q3 (-5% for Fashion and Leather Goods), even though we perceive that the climate in China remains difficult and that the hoped-for improvement in the USA and Europe is very gradual.

We have not significantly modified our group sales growth forecasts: we expect -1.4% for Q4 24 and +3.8% for FY 25, the broker concludes.


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