LVMH: UBS lowers target price

(CercleFinance.com) - UBS confirms its Neutral recommendation on the share, while lowering its target price for it to E629 (from E660) following the announcement of Q3 2024 figures.


LVMH's Q3 sales disappointed, with a substantial lack of organic sales growth in the largest Fashion & Leather Goods division, reducing EPS estimates by -3%/-4%/-4% for 24/25/26, UBS says.

Group organic sales growth (OSG) in Q3 of -3% was significantly below consensus and UBS's estimate, with total group sales in Q3 reaching E19,076m, -5% vs. consensus of E20,012m (-2% vs. UBS's estimate of E19,561m), the broker adds.


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