LVMH: Bryan Garnier upgrades rating
(CercleFinance.com) - Bryan Garnier has upgraded its rating on the LVMH stock from "neutral" to "buy," and has raised its fair value for the share from 272 euros to 307 euros, while upping its 2018-2020 EPS estimates by 5%, saying that it is convinced by LVMH's solid fundamentals.
"It seems that the luxury goods industry is in better shape than we initially thought, mainly thanks to China and Chinese clientele," says the broker in its sector report, raising its 2018-2020 earnings estimates by an average of 4%.
Despite a difficult comparison basis, Bryan Garnier no longer expects a slowdown in 2018 compared to 2017, forecasting average organic sales growth of 8% in the sector this year, compared to a previous estimate of 6.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"It seems that the luxury goods industry is in better shape than we initially thought, mainly thanks to China and Chinese clientele," says the broker in its sector report, raising its 2018-2020 earnings estimates by an average of 4%.
Despite a difficult comparison basis, Bryan Garnier no longer expects a slowdown in 2018 compared to 2017, forecasting average organic sales growth of 8% in the sector this year, compared to a previous estimate of 6.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.