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LVMH: Crédit Suisse raises target price

( - Crédit Suisse reiterates its 'outperform' rating on LVMH with a target price raised from 450 to 475 euros, the day after the number-one luxury brand published its quarterly figures.

The analysts increase their organic sales growth forecast for 2020 by two points to -15%, and their operating profit forecast by 5% to 7.4 billion euros, thanks to better divisional mix.

Crédit Suisse also increases its operating profit forecasts for 2021 and 2022 by 4% “thanks to a more encouraging mid-term outlook for LV/Dior/Hennessy". Otherwise, it considers the relative valuation “undemanding”.

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