LVMH: Oddo raises 2018 and 2019 EPS estimates

(CercleFinance.com) - Oddo has raised its 2018 and 2019 EPS estimates by 4% and 3% respectively, following the group's publication of quarterly revenue.


The broker's analysts have also adjusted their target price to 305 euros (against 282 euros previously) and reiterate their Buy rating on the stock.

LVMH reported sales that are up 13% at constant currencies at 10,854 million euros in Q1 2018 (+15% excluding the impact of the end of the Hong Kong airport concession), 3% above Oddo's expectations. Meanwhile, organic growth is well above expectations (Oddo BHF expects +9.1% at constant exchange rates).


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