Barclays analyst Carole Madjo downgraded LVMH to Equal Weight from Overweight with a price target of EUR 835, down from EUR 932. Following a trip to China, the analyst has turned more cautious on luxury goods. The firm sees risk of disappointing sales growth coming from China as well as margin risk across the space. As such, it downgraded the sector to Neutral from Positive and cut LVMH to Equal Weight.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LVMUY:
- LVMH’s Thelios acquires French eyewear brand Vuarnet
- Opening Day: Synthetic THC researcher Mira Pharmaceuticals debuts on Nasdaq
- LVMH price target lowered to EUR 932 from EUR 948 at Barclays
- LVMH price target raised to EUR 1,020 from EUR 1,005 at Credit Suisse
- LVMH price target lowered to EUR 835 from EUR 845 at Deutsche Bank