LVMH: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating on LVMH shares, with a target price raised from E835 to E857, suggesting around 10% 12m upside potential, the day after the luxury goods group's quarterly trading update.


Overall, the broker considers the Q1 publication fairly reassuring, even though growth in the fashion and leather goods division is confirmed to be a little sluggish at this stage.

In addition, Oddo BHF notes that the share's lacklustre performance at the start of the year leads to a slightly more perceptible discount of its PE and EV/EBIT multiples to the sector's weighted average, at close to -7%/-8%.


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