LVMH: Oddo raises target price

(CercleFinance.com) - Oddo BHF has reiterated its "outperform" opinion on LVMH shares, having increased its target price for them from 817 euros to 861 euros, based on slightly higher medium-term growth forecasts, fewer shares in the group's capital, with minority interests now worth slightly less.


The broker said that at this stage, and in view of a global luxury goods market that it expects to grow at a measured pace in 2023, it believes it prudent to expect moderate additional upside potential, with upside potential suggested in its target price for LVMH remaining competitive in relative terms.

The broker also still believes that that the investment case for the luxury goods leader is above average, pointing to a well-maintained growth momentum of major brands and a favourable exposure to the recovery of Chinese tourism.


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