(CercleFinance.com) – Stifel reiterates its ‘buy’ recommendation and its target price of 750 euros on LVMH, declaring to remain ‘confident but vigilant’, after organic sales growth of +22% in the third quarter for the very important sector fashion and leather goods.
He adds that thanks to a leverage effect of +8% on exchange rates, the group’s turnover in the third quarter grew by +27% year-on-year to reach 19.8 billion euros, i.e. a little more than 4% above consensus.
“We believe this should lead to single-digit improvements in sales consensus and EBIT for the years 2022-23,” said Stifel, for whom LVMH remains its “best choice for luxury”.
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