LVMH: Jefferies still a buyer, but cuts target

(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on the LVMH share, while cutting its target price by 14%, from 350 to 300 euros, in a sector note dedicated to luxury stocks in Europe.


It explains that it has revisited its estimates for certain shares in its coverage universe when justified, as well as target prices due to "lower sustainable multiples in a more uncertain environment".

"Our view of outperformers has not changed but we see more volatility and less upside in 2019 at this time," the broker summarises in its report.

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