LVMH: Jefferies downgrades stock

(CercleFinance.com) - On Wednesday Jefferies downgraded LVMH shares from "buy" to "hold", reducing its target price for them from E960 to E780 (cp: E734, -0.
3%).

Given LVMH's huge size - whose businesses in fashion & leather goods and watches and jewelry alone represent almost 40% of the global market - Jefferies says that it expects its destiny to remain linked to major sector trends over the coming months.

From this angle, the broker believes that the spending trends of Americans and Europeans, and particularly those of Chinese consumers, will be decisive for major players in the business.

In addition, while acknowledging that LVMH shares remain attractive from a long-term perspective, the broker believes that the outlook for the next 6 to 12 months is the most important consideration for the immediate future.


Copyright (c) 2023 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.