LVMH: Stifel confirms buy rating after Q3 results
(CercleFinance.com) - After it announced its Q3 2023 figures, Stifel confirms its Buy rating on the LVMH stock, with a target price of E850.
Organic sales growth for LVMH's Fashion & Leather Goods business slowed sequentially to +9% in Q3 2023, just below Stifel's estimate of +10%.
"LVMH delivered +9% organic growth (vs. +12% consensus)" the analyst says.
"We saw broadly stable sequential trends in the US (still soft) and Japan (still strong), but a bigger than expected sequential deceleration in Asia ex-Japan and Europe" Stifel adds.
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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.
Organic sales growth for LVMH's Fashion & Leather Goods business slowed sequentially to +9% in Q3 2023, just below Stifel's estimate of +10%.
"LVMH delivered +9% organic growth (vs. +12% consensus)" the analyst says.
"We saw broadly stable sequential trends in the US (still soft) and Japan (still strong), but a bigger than expected sequential deceleration in Asia ex-Japan and Europe" Stifel adds.
Copyright (c) 2023 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.