LVMH: removed from Bryan Garnier's Top Pick list.

(CercleFinance.com) - Bryan Garnier has confirmed its "buy" rating on LVMH, with a fair value of 223 euros, although is withdrawing the stock from its Q2 Top Pick list.


The broker has underlined that the share price of the leading luxury goods group has risen by 10% last month, compared with a 1% increase in the DJ Stoxx index and a 4% rise in its sample of luxury goods stocks.

Bryan Garnier justifies the share's outperformance by the group's announcement of very strong sales growth that exceeded estimates in Q1, in addition to the positive deal announced between LVMH and Christian Dior.


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