LVMH: Invest Securities raises target price.

(CercleFinance.com) - Maintaining its buy rating on the stock, in a report issued this Wednesday morning, the day after the luxury giant published its Q3 sales, Invest Securities raised its target price for the LVMH stock from 256 euros to 265 euros.


"It is no longer just a catch-up, but rather a strong growth cycle in which LVMH is firmly anchored," said the broker, which added that "third quarter sales not only maintained the trend over the first half (+12% in organic terms), but also confirmed a growth trend of nearly 20% over the next 2 years.

"A clear sign is that the group's performance is remarkably balanced, depending on its divisions, with the exception of wines and spirits," Invest Securities adds, for which "the stock's high valuation is offset by the group's growth momentum," which justifies why the broker remains a buyer of the stock.


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