LVMH: Oddo trims target price
(CercleFinance.com) - Oddo confirms its "outperform" rating on LVMH shares, albeit reducing its target price from 741 euros to 710 euros, due to the application of new market parameters.
However, even with the new lower target price, the broker specifies that the stock still has 12m upside potential of over 15%.
With the set to announce its Q3 sales figures on 11 October, LVMH says that it did not perceive a slowdown in demand for luxury goods during the summer, Oddo says.
In addition, LVMH highlights a significant improvement in the situation in China compared to Q2.
Against this backdrop, the broker has raised its y/y cc growth forecast for Q3 for Fashion and Leather Goods from +9% to +15% and from +9% to +12% for Watches and Jewelry.
In the end, analysts have increased their annual sales/EBIT forecasts by +1% for 2022, although are maintaining them unchanged for 2023 and 2024.
The share is flat in early trading today.
Copyright (c) 2022 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.
However, even with the new lower target price, the broker specifies that the stock still has 12m upside potential of over 15%.
With the set to announce its Q3 sales figures on 11 October, LVMH says that it did not perceive a slowdown in demand for luxury goods during the summer, Oddo says.
In addition, LVMH highlights a significant improvement in the situation in China compared to Q2.
Against this backdrop, the broker has raised its y/y cc growth forecast for Q3 for Fashion and Leather Goods from +9% to +15% and from +9% to +12% for Watches and Jewelry.
In the end, analysts have increased their annual sales/EBIT forecasts by +1% for 2022, although are maintaining them unchanged for 2023 and 2024.
The share is flat in early trading today.
Copyright (c) 2022 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.