LVMH: Crédit Suisse raises target price
(CercleFinance.com) - 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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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.
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”.
Copyright (c) 2020 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.