LVMH: surrounded with a broker upgrade
(CercleFinance.com) - LVMH jumps 8% to lead the CAC40, with the support of Bank of America, which raises its recommendation from 'neutral' to 'buy' with a price target raised from 700 to 735 euros, while including the stock in its 'Europe 1' best ideas list.
In its note, the broker points out that luxury trends are gradually improving from the third-quarter lows, that cost growth is under control in 2025, and that exchange rates have turned around favorably.
The LVMH share is also benefiting, as are all luxury goods stocks, from a craze for the sector following a very encouraging business update from its Swiss peer Richemont, which reported the highest quarterly sales in its history.
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