LVMH: Barclays initiates coverage at 'overweight'
(CercleFinance.com) - On Wednesday, Barclays initiated coverage of the LVMH share with an 'overweight' recommendation and a price target of 726 euros.
In its research note, the broker said it considered that there were buying opportunities in the sector and that in view of this, LVMH fulfils all the important criteria.
Barclays explains that it believes that LVMH will continue to outperform its market thanks to the favourable dynamics of its biggest brands, in particular Louis Vuitton, as well as to its solid position in China and the United States.
It also says that it appreciates the efforts made by the group in the watches and jewellery sector, illustrated by its recent acquisition of Tiffany. Currently, its target price reveals an upside of approximately 15%.
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