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LVMH: AlphaValue raises target price

( - AlphaValue has raised its target price for LVMH shares from 748 euros to 802 euros, praising the luxury giant's ability to resist in an environment deemed uncertain.

"While it is true that the uncertainty linked to the current economic context is likely to weigh on investor sentiment towards the luxury sector, the group's broad diversification, both in terms of activities and brands, its well-balanced geographical positioning and its solid financial base give it a more defensive profile," the broker said.

Analysts say that they have raised their earnings forecast for 2022 after the group's better-than-expected H1 performance, particularly in light of the encouraging margin outlook for the fashion and leather goods division.

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