LVMH: Bryan Garnier no longer a buyer.
(CercleFinance.com) - In a report devoted to European luxury groups, Bryan Garnier has downgraded its rating on LVMH from "buy" to "neutral," mainly for valuation reasons, with trimming its fair value for the stock from 230 euros to 227 euros.
The broker believes that after a very solid first half for the sector, the second could be a little more difficult, with a likely slowdown in growth momentum. "Furthermore, the current sector and group valuations are beginning to be quite demanding," it adds.
Within the sector, Bryan Garnier continues to prefer the Swiss player Richemont, the Italian group Moncler and the French company Hermes; it has “buy” ratings on all three of these stocks, while it has upgraded its “sell” rating to “neutral” on the Italian stock Salvatore Ferragamo after the share's recent weakness in the stockmarket.
Copyright (c) 2017 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 broker believes that after a very solid first half for the sector, the second could be a little more difficult, with a likely slowdown in growth momentum. "Furthermore, the current sector and group valuations are beginning to be quite demanding," it adds.
Within the sector, Bryan Garnier continues to prefer the Swiss player Richemont, the Italian group Moncler and the French company Hermes; it has “buy” ratings on all three of these stocks, while it has upgraded its “sell” rating to “neutral” on the Italian stock Salvatore Ferragamo after the share's recent weakness in the stockmarket.
Copyright (c) 2017 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.