LVMH: share at a standstill, as analyst reduces TP

(CercleFinance.com) - The LVMH shares are being weighed on this Wednesday in Paris, as analysts at Barclays reduced their target price for the stock.


At around 3:30 pm, the luxury giant is pretty flat, lagging the CAC 40, which is up 0.6%.

Barclays, which downgraded its recommendation on the stock last September, says that it has reduced its target from E820 to E800.

In its comments, the broker says that it is comfortable with its new 'equal weight' rating on the stock, saying that it anticipates a slowdown in the group's growth momentum, as well as potentially bad news for its profit margins.

While it has risen by 4.8% YTD, LVMH shares have been flat (-0.2%) over the past 12 months.


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.