LVMH: Jefferies lowers target price

(CercleFinance.com) - Jefferies has reiterated its 'hold' recommendation on LVMH, while lowering its target price from 600 to 560 euros, on the heels of a third-quarter trading update which, in its view, marks 'a difficult start to a long earnings season'.


LVMH's publication confirms a difficult sector context over the last few months, with the slowdown in the Chinese cluster", says the broker, for whom "it is unlikely that the recent announcements of stimulus measures have reversed the trend".

Jefferies cuts its earnings forecast for LVMH in 2025 by 8%, to reflect margins in the fashion and leather goods division below 38% and dilution of 4% due to higher French tax rates.

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