LVMH: Oddo BHF trims target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on LVMH shares, trimming its target price for them from E854 to E841, which reflects its new earnings estimates for the world's leading luxury goods company.


The broker has reduced its 2023 estimates slightly (-1% for EBIT), although has adopted a more cautious scenario for the following two years, thereby cutting its EBIT estimates by 5% for 2024 and by 4% for 2025.

While Oddo BHF believes that LVMH cannot avoid the risk of a sharper slowdown over 2024, it sees it as no more at risk than the rest of the sector, and considers that it has specific strengths that are still visible.


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