LVMH: Jefferies raises target price

(CercleFinance.com) - Jefferies reaffirms its "buy" rating on the LVMH share, having increased its 12-month target price from 455 euros to 590 euros, a target that is based on its 2022 estimates, and which includes preliminary assumptions on Tiffany now that the transaction is close to being completed.


"The pandemic is strengthening the relative position of the better players, which with few exceptions tend to be the larger ones,"the broker points out, adding that " LVMH have so far managed to be at the forefront where it mattered".

"We believe this is unlikely to change and we see more substantial performance in the medium-term," it continues, also judging that "LVMH are not as expensive as you think".


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