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LVMH: Stifel still a buyer

( - Stifel has confirmed its buy rating on LVMH shares with an unchanged target price of E895.

The analyst reports that Tiffany's flagship shop on Fifth Avenue in New York will open to the public on 28 April.

LVMH investors have long awaited the reopening of the unique shop - named 'The Landmark' - after several years of renovation work that began in 2019.

Tiffany's Fifth Avenue has always been the world's largest luxury shop, having generated approximately $400m, analysts note.

The broker says that Tiffany posted strong results last year, generating north of E5bn in revenue and nearly E1bn in EBIT.

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