Telsey Advisory lowered the firm’s price target on LVMH to EUR 800 from EUR 850 and keeps an Outperform rating on the shares. Following last quarter’s miss, where both Q2 sales and H1 profit came in below expectations, the firm continues to be cautious on the stock, particularly given recent sales misses and profit warnings from luxury peers, the analyst tells investors. Despite this, the firm continues to view the company as more resilient within the global luxury category given its broad diversification.
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