LVMH: UBS trims target price
(CercleFinance.com) - UBS reinstates its "buy" rating on LVMH shares, having nudged up its target price for them from 723 euros to 731 euros, with its new target price suggesting upside potential of 24% for the French luxury giant's share.
Ahead of its interim results, the broker says it expects organic sales growth of +20% for the F&LG division (fashion and leather goods), against a consensus of +12%, "thus confirming the superior pricing power of group's brands".
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