(CercleFinance.com) – LVMH ranks at the top of the CAC 40 charts on Monday on the Paris Stock Exchange following the raising of the price target by Bernstein, who continues to consider the French luxury giant as a “winner” of the sector.
Around 4:40 p.m., the title of the owner, among others, of the Dom Pérignon champagne and the Sephora perfumery chain gained 0.4% while the CAC advanced by 0.1%.
In a note devoted today to the luxury industry, Bernstein indicates that he has raised his target price from 781 to 811 euros, with an opinion maintained at ‘outperformance’ on the title.
While pointing out that the action is moving 29% above its annual lows, the intermediary says he considers the French group to be a “winner” in the sector, along with the Italian Moncler.
In his study, Bernstein indicates that he has revised upwards his earnings forecasts for the main players in the sector after a first half that he considers particularly successful.
More generally, the analyst considers that the ‘YOLO’ philosophy (‘you only live once’) which characterizes today’s high-end consumer has a ground swell that has benefited the luxury sector.
If he expects a normalization of this effect, Bernstein says he forecasts a “gradual” slowdown process, which will depend a lot – according to him – on the evolution of the Chinese market and the consequences of the Covid epidemic.
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