LVMH: Oddo raises target price

(CercleFinance.com) - Oddo BHF reinstates its "outperform" rating on LVMH shares, having increased its corresponding target price from 660 euros to 695 euros, after increasing its estimates (+3% for 2021 EBIT, and +2% for 2022 and 2023 EBIT), considering an overall trend that remains favourable.


The analyst acknowledges that this is a modest increase compared to recent prices, although it reflects the overall valuation of the luxury sector, which we now believe is more demanding, the analyst said regarding his raised target price.

The growing success of Céline and Fendi supports Louis Vuitton's dominance and Dior's proven change in status, while other divisions have decent prospects for sustainable growth or which could benefit from a cyclical recovery, he says however.



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