LVMH: Berenberg raises its price target

(CercleFinance.com) - Berenberg announced on Thursday that it had raised its price target for LVMH from 720 to 740 euros, while renewing its buy recommendation on the stock.


Following the roller-coaster ride that followed the recent publication of the 2024 annual results, the broker believes that the investment case remains unchanged.

It underpins its positive opinion on the stock by the quality of the French luxury giant's management team, the solidity of its business model, its ability to gain market share through both organic and external initiatives in a sector in crisis, and its expertise in capital allocation.

At a time when growth stories are becoming scarce on European equity markets, the stock's premium of just 3% to its ten-year average PER makes it an attractive value," concludes the broker.

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