(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ opinion on LVMH, while adjusting its target price from 787 to 741 euros, due to a rise in its beta coefficient partially offset by that of its short-term estimates term for the luxury giant.
If he recognizes “a little more caution for the short term in view of unchanged macroeconomic uncertainties”, he considers that “the relative case of LVMH remains favorable, relying above all on the performance of its brands. in fashion and leather goods’.
“The recovery in cognac volumes, Tiffany’s repositioning efforts which seem to be bearing their first fruits and the continued catch-up in selective distribution also constitute good additional elements”, continues the analyst.
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