LVMH: RBC raises target price

(CercleFinance.com) - Royal Bank of Canada announced on Monday that it has raised its target price for LVMH shares from 800 euros to 890 euros in anticipation of an improvement in the group's profit margin this year.


The broker said that it remains positive aboui the stock, on which it still has an "outperform" rating, following the French luxury giant's recently published 2022 annual results.

RBC says that its growth trajectory remains one of the most attractive in the sector, as does its margin and ROIC profile.

For 2023, the Canadian broker expects organic growth of 10% and a 1-point improvement in its EBIT margin, driven by marketing expenditure, the reopening of the Chinese economy and the recovery of specialty retailers.


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