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LVMH: Stifel raises target price

( - Stifel has confirmed its "buy" rating on LVMH shares, raising its target price for them from E860 to E895, also increasing its 2023-25 EPS estimmates by 1%, driven by higher organic growth assumptions.

"LVMH should benefit from a substantial Chinese cluster tailwind post reopening and encouraging signs of a gradual resumption in Chinese outbound travel activity," the broker said.

"LVMH offers strong pricing power, a proven defensive track record for its Fashion & Leather (3/4 of group profits) in past downturn cycles and a strong brand portfolio that benefits from the usual 'flight-to-quality' when the external environment gets tougher," it continues.

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