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LVMH: Stifel lowers its target price

(CercleFinance.com) - While maintaining its 'buy' recommendation on LVMH shares, Stifel has lowered its target price for them from E720 to E680, in the wake of EBIT forecasts cut by 4% for 2024 and 5% for 2025, in reaction to the luxury giant's quarterly trading update.


LVMH shares are unlikely to outperform until fashion and leather goods sales trends improve and earnings revisions stabilize, so patience is called for, the broker says.

However, Stifel believes that an improvement in Chinese consumer confidence, currently at Covid-19 era lows, could be a potential catalyst for the stock during 2025.


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