LVMH: BofA moves to 'neutral

(CercleFinance.com) - Bank of America announced on Monday that it had reduced its recommendation on LVMH from 'buy' to 'neutral', with a price target lowered from 950 to 700 euros.


While it considers the French luxury giant to be a benchmark within the sector due to the quality of its management team and its portfolio of brands, the American investment bank believes that these assets will not be enough to immunize it against the current slowdown, even if they could help counterbalance its effects to some extent.

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