LVMH: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "outperform" rating on LVMH shares, having increased its target price for them from 697 euros to 712 euros, thanks to the robust momentum of Q3.
Indeed, Q3 sales were 5% above Oddo's expectations (and 3% above the consensus).
The Fashion and Leather Goods segment remains the spearhead of the group's expansion, with 2-year growth remaining remarkable at +38% and decelerating only slightly from the exceptional +40% published for Q2, the analyst says.
Against this backdrop, Oddo has edged up its FY forecast for LVMH, with +2% on sales and earnings for the full sequence, taking into account growth in Q3 and more favourable exchange rates in Q4.
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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.
Indeed, Q3 sales were 5% above Oddo's expectations (and 3% above the consensus).
The Fashion and Leather Goods segment remains the spearhead of the group's expansion, with 2-year growth remaining remarkable at +38% and decelerating only slightly from the exceptional +40% published for Q2, the analyst says.
Against this backdrop, Oddo has edged up its FY forecast for LVMH, with +2% on sales and earnings for the full sequence, taking into account growth in Q3 and more favourable exchange rates in Q4.
Copyright (c) 2021 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.