(News Bulletin 247) – Oddo BHF maintains its outperformance rating on LVMH shares, with a price target slightly raised from 871 to 875 euros.
The analysis office estimates that while the pause observed in the 1st quarter continued in the US – the group does not consider it catastrophic – ‘developments everywhere else remain favorable with a tourism effect still present in Europe and Japan showing momentum maintained’.
The analyst indicates to raise its forecasts on Fashion and Leather Goods, counting on a growth of 20% in the 2nd quarter (against 18% previously). ‘We have also raised our Q3 growth forecasts by 1pt (ie +10% now) and Q4 (+11%)’, he says.
Consequently, group EBIT forecasts for 2023 and 2024 have been raised by 1%. ‘We believe that the growth of the group’s EBIT remains capable of exceeding that of its peers taken as a whole over the next few years’, underlines Oddo BHF.
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