LVMH: Oddo BHF still a buyer
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on LVMH shares, with an unchanged target price of E698.
The short-term outlook is likely to remain gloomy, but the potential for unpleasant surprises now seems limited, based on our latest forecasts, the analyst says.
Oddo BHF also believes that the lesser importance of China in the Q4 sales of the group's main divisions gives reason to hope for a very slight improvement in growth after the -3% observed in Q3 (-5% for Fashion and Leather Goods), even though we perceive that the climate in China remains difficult and that the hoped-for improvement in the USA and Europe is very gradual.
We have not significantly modified our group sales growth forecasts: we expect -1.4% for Q4 24 and +3.8% for FY 25, the broker concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The short-term outlook is likely to remain gloomy, but the potential for unpleasant surprises now seems limited, based on our latest forecasts, the analyst says.
Oddo BHF also believes that the lesser importance of China in the Q4 sales of the group's main divisions gives reason to hope for a very slight improvement in growth after the -3% observed in Q3 (-5% for Fashion and Leather Goods), even though we perceive that the climate in China remains difficult and that the hoped-for improvement in the USA and Europe is very gradual.
We have not significantly modified our group sales growth forecasts: we expect -1.4% for Q4 24 and +3.8% for FY 25, the broker concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.