LVMH: Berenberg raises target price
(CercleFinance.com) - LVMH shares do not seem to be reacting to Berenberg raising its target price for the share of the French luxury goods giant, for which the broker now targets 344 euros (vs.
340 euros previously) ahead of the company's Q3 results next week.
"We expect a quarter of 10% organic growth to confirm the continuation of the strong underlying trends in the industry, despite recent concerns about a potential slowdown in China," the broker said.
However, as the market continues to worry about a deceleration in top-line growth, Berenberg expects investors to focus on any comments about trends in China, it said.
In a note, Berenberg maintains its "buy" rating on the stock.
However, LVMH shares are currently down 2.2% at 300 euros in Paris.
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.
340 euros previously) ahead of the company's Q3 results next week.
"We expect a quarter of 10% organic growth to confirm the continuation of the strong underlying trends in the industry, despite recent concerns about a potential slowdown in China," the broker said.
However, as the market continues to worry about a deceleration in top-line growth, Berenberg expects investors to focus on any comments about trends in China, it said.
In a note, Berenberg maintains its "buy" rating on the stock.
However, LVMH shares are currently down 2.2% at 300 euros in Paris.
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.