LVMH: Stifel raises target price
(CercleFinance.com) - 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.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.