LVMH: Jefferies raises target price
(CercleFinance.com) - While reiterating its 'hold' recommendation on LVMH, Jefferies is raising its target price from E560 to E670, ahead of the French luxury giant's publication of its results for 2024, scheduled for this evening after trading.
This publication is a better indicator of broader trends in luxury than those of Richemont or Burberry, the broker says, which expects a more assured inflection of growth in fashion and leather goods than the consensus.
Jefferies expects this F&LG division to post growth of 3% in the fourth quarter of 2024, as well as an operating margin down 270bp for H2.
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The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.
This publication is a better indicator of broader trends in luxury than those of Richemont or Burberry, the broker says, which expects a more assured inflection of growth in fashion and leather goods than the consensus.
Jefferies expects this F&LG division to post growth of 3% in the fourth quarter of 2024, as well as an operating margin down 270bp for H2.
Copyright (c) 2025 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 decision-making aids 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.