Telsey Advisory analyst Dana Telsey raised the firm’s price target on LVMH (LVMUY) to $585 from $575 and keeps an Outperform rating on the shares. The company’s Q3 organic sales growth rate beat expectations and the company saw improvements across geographies in the quarter, the analyst tells investors. While the company has experienced near-term disruptions, the firm believes LVMH has some of the “strongest luxury brands” in the world.
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>>
Read More on LVMUY:
- LVMH Stock (MC) Soars on Surprise Q3 Sales Boost from China
- LVMH reports Q3 organic revenue growth of 1%
- Tiffany-owner LVMH Faces Profit Risk as Gold Prices Soar Ahead of Q3 Earnings
- Why LVMH Stock Is Back in the Wall Street Spotlight
- LVMH: Strategic Resilience and Market Leadership Amidst Industry Challenges