(News Bulletin 247) – Jefferies reiterated its ‘buy’ recommendation on LVMH on Monday with a price target raised from 740 to 960 euros, declaring that it expects the French giant to outperform the luxury sector.
According to him, LVMH is “ready to deliver double-digit growth and to maintain overall its post-pandemic levels of profitability, growing market shares and vigorous cash flow generation supporting superior momentum”.
“The valuation multiples only remain in line with their history even though it is now a bigger and stronger group”, adds the broker, for whom the EV / EBIT ratios of 16 times and PE of 24 times ‘are not demanding’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.