LVMH: Aurel BGC renews 'hold' rating.
(CercleFinance.com) - Reacting to yesterday evening's publication of LVMH's 9 month sales, Aurel BGC has reiterated its "hold" rting on the LVMH stock, with a target price of 235 euros.
The luxury goods giant reported revenue that is up 14% (+12% in organic terms) year-on-year at 30.1 billion euros, which is slightly higher than its forecast of 29.9 billion euros.
Contrary to expectations, LVMH cannot see any slowdown in its trends relative to H1 (+12% in organic terms, as well), despite a less favourable comparison basis for the Fashion & Leather Goods division and supply constraints in cognac after a particularly dynamic start to 2017, the broker points out, which, along with the consensus, expected just 9% growth in organic terms.
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