(News Bulletin 247) – Oddo maintains its ‘outperformance’ rating on LVMH shares, with a price target raised from 861 to 881 euros.
The analysis office reports that LVMH sees “clear signs of recovery” in China, with “a more visible acceleration from the end of March with a basis for comparison which will become very favorable”.
In addition, Chinese tourism is visibly contributing: it is already visible in Hong Kong and Macao and to a lesser extent in the rest of Asia, reports Oddo.
In this context, the analyst is raising his forecasts despite slightly more unfavorable exchange rates: +1% EBIT 2023e and 2024e, +2% EBIT 2025e.
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