LVMH: price target lowered by Oddo BHF

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on LVMH, but lowers its target price from €836 to €805, to reflect its new reduced forecasts for the world's number one luxury goods company, in reaction to its half-yearly publication.


Acknowledging an easier basis of comparison in the second half, but pointing to the cautious message on margins, the analyst lowered his EBIT forecasts by 5% for 2024 and 3% for the following two years.

Nevertheless, the research department remains convinced that 'the Group's soft luxury division should continue to perform well within the sector' and that 'the efforts made at Tiffany will eventually pay off'.

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