LVMH: UBS raises target price
(CercleFinance.com) - Following last night's Q1 2022 sales figures, UBS has confirmed its buy rating on the stock, increasing its target price for it to 826 euros (from 807 euros).
"Q1 group organic sales growth of +23% came in ahead of cons +19% (in line with UBSe +23%), with Q1 total sales reaching EUR18,003m, +6% vs. cons EUR17,007m (+1% vs. UBSe EUR17,869m)," the broker says.
Q1 results confirm the continued strength of demand for luxury goods, despite the blockages in China, it added.
The share is currently up the best part of 1% in Paris.
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