LVMH: Berenberg raises target price

(CercleFinance.com) - On Thursday Berenberg raised its target price for LVMH from E720 to E740, maintaining its buy rating on the stock.


Following the roller-coaster ride that followed the recent publication of the 2024 annual results, the broker believes that the investment case remains unchanged.

It underpins its positive opinion on the stock by the quality of the French luxury giant's management team, the solidity of its business model, its ability to gain market share through both organic and external initiatives in a sector in crisis, and its expertise in capital allocation.

At a time when growth stories are becoming scarce on European equity markets, the stock's premium of just 3% to its ten-year average P/E makes it attractive, the broker concludes.


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