LVMH price target lowered to EUR 850 from EUR 900 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on LVMH to EUR 850 from EUR 900 and keeps an Outperform rating on the shares. LVMH delivered better-than-expected organic topline growth in Q4, led by increases across all business groups and regions, says the analyst, who calls the fourth quarter and full year results “an affirmation of the strength of the LVMH model.” The firm is trimming its price target, however, citing “modestly lower” estimates on a less certain macro outlook.