LVMH price target lowered to EUR 900 from EUR 955 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on LVMH to EUR 900 from EUR 955 and keeps an Outperform rating on the shares. LVMH’s Q3 sales slowed markedly and came in below expectations because of a widely expected slowdown in China and Europe, while the U.S. remained sluggish, the analyst tells investors in a research note. Inflation and higher interest rates have led to uncertainty in asset values and the global macro outlook, while the pandemic-fueled demand for hard goods may be receding, the analyst contends.