(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ opinion on LVMH with a price target raised from 817 to 861 euros, on slightly raised medium-term growth forecasts, a lower number of shares in the capital and slightly less valued minority interests.
‘At this stage and in view of a global luxury market which we believe should progress at a measured pace in 2023, it seems prudent to us to count on a moderate additional upside potential and that suggested by our CB on LVMH remains competitive. in relative’, he judges.
The research office also persists in thinking that “the investment case of the luxury leader is above average”, pointing to a well-maintained dynamic of the major brands and favorable exposure to the recovery of Chinese tourism.
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