LVMH: Oddo raises target price after quarterly results
(CercleFinance.com) - Oddo BHF has confirmed its "outperform" rating on the LVMH stock, having increased its corresponding target price from 608 euros to 660 euros, following the luxury giant's announcement of Q1 sales that beat expectations by 10%.
The broker raised its annual sales and EBIT estimates by +5%/+6% and +8%/+9% respectively for the 2021-2023, even though it said that it remains relatively cautious about the second quarter.
The group should benefit from a gradual return to normality in terms of leisure, tourism and travel, which will of course benefit its overall earnings growth trajectory, the analyst said.
The share is in pole position in the CAC 40 on Wednesday, currently up over 2.5%.
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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 raised its annual sales and EBIT estimates by +5%/+6% and +8%/+9% respectively for the 2021-2023, even though it said that it remains relatively cautious about the second quarter.
The group should benefit from a gradual return to normality in terms of leisure, tourism and travel, which will of course benefit its overall earnings growth trajectory, the analyst said.
The share is in pole position in the CAC 40 on Wednesday, currently up over 2.5%.
Copyright (c) 2021 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.