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The share price of the world’s number one luxury goods company should benefit from the favorable forecasts of Stifel, the American investment bank. The reopening of the Chinese market and the buzz around its rich portfolio of brands could push the stock even higher.
In April, LVMH is expected to publish its first quarter sales. These figures are eagerly awaited by the stock market and other companies, as the French luxury giant dominates its sector, with a host of brands to its credit. However, by already giving the market a few keys, a few weeks before this financial meeting, Stifel is helping it in its ascent.
The American investment bank has indeed given a boost to the price target assigned to the LVMH share, to target 895 euros, against a price of 818 euros yesterday afternoon. In its note, Stifel said it raised its earnings per share forecast for 2023-2025 by 1%.
According to Stifel, LVMH is thus well positioned to benefit from the reopening of the Chinese market. The forecast is based on encouraging signs of a gradual recovery in outbound travel by Chinese tourists.
“At the same time, LVMH has strong pricing power, a proven defensive track record for its fashion and leather business in past economic down cycles and a strong brand portfolio that benefits from the usual flight to quality when the external environment gets tougher,” Stifel points out.
In February, LVMH indicated that it would increase prices by up to 20% in China for its flagship brand, Louis Vuitton. This decision is linked to the strong rebound of Chinese demand in the luxury goods market, after a long period of inactivity due to restrictions related to the pandemic.
Still according to Stifel, these improvements should allow the French group owned by Bernard Arnault to post “organic sales growth of 10% in the first quarter of 2023 slightly higher than the +9% in the fourth quarter of 2022, thanks to 11% growth for fashion and leather goods – the group’s flagship division – and +14% for Selective Retailing“.
2023 synonymous with positivity and growth
On the sidelines of its annual results, the group announced that it was starting 2023 “with confidence”: “I am quite confident for 2023. If the beginning of the year is confirmed, if the opening of China is confirmed, (…) the start is extremely strong (…), it should be a very good year” had confided the CEO, Bernard Arnault.
The market capitalization of the French luxury giant is now over 400 billion euros. Everyone is now looking forward to the results of the first quarter of 2023.
Read also >Luxury dominates Kantar’s ranking of the top 50 most valuable French brands
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The share price of the world’s number one luxury goods company should benefit from the favorable forecasts of Stifel, the American investment bank. The reopening of the Chinese market and the buzz around its rich portfolio of brands could push the stock even higher.
In April, LVMH is expected to publish its first quarter sales. These figures are eagerly awaited by the stock market and other companies, as the French luxury giant dominates its sector, with a host of brands to its credit. However, by already giving the market a few keys, a few weeks before this financial meeting, Stifel is helping it in its ascent.
The American investment bank has indeed given a boost to the price target assigned to the LVMH share, to target 895 euros, against a price of 818 euros yesterday afternoon. In its note, Stifel said it raised its earnings per share forecast for 2023-2025 by 1%.
According to Stifel, LVMH is thus well positioned to benefit from the reopening of the Chinese market. The forecast is based on encouraging signs of a gradual recovery in outbound travel by Chinese tourists.
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The share price of the world’s number one luxury goods company should benefit from the favorable forecasts of Stifel, the American investment bank. The reopening of the Chinese market and the buzz around its rich portfolio of brands could push the stock even higher.
In April, LVMH is expected to publish its first quarter sales. These figures are eagerly awaited by the stock market and other companies, as the French luxury giant dominates its sector, with a host of brands to its credit. However, by already giving the market a few keys, a few weeks before this financial meeting, Stifel is helping it in its ascent.
The American investment bank has indeed given a boost to the price target assigned to the LVMH share, to target 895 euros, against a price of 818 euros yesterday afternoon. In its note, Stifel said it raised its earnings per share forecast for 2023-2025 by 1%.
According to Stifel, LVMH is thus well positioned to benefit from the reopening of the Chinese market. The forecast is based on encouraging signs of a gradual recovery in outbound travel by Chinese tourists.
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