LVMH: Oddo BHF cuts TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on LVMH shares, with a target price lowered from E857 to E836.


The analyst forecasts "less flattering" future figures, accompanied by "more mixed" investor sentiment. As a result, the broker trims its annual EBIT guidance by -2%/-3%.

Nevertheless, the 12m upside potential suggested in its new TP, resulting from its new estimates remains significant, based on the current share price, the broker says.

Oddo BHF adds that the stock's investment case rests on two main pillars in the recent period: proven quality of the group's management and strong growth in sales and earnings in the Fashion and Leather Goods division.


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