LVMH Shares Poised for Potential Rebound as Goldman Sachs Raisises Outlook

Investment firm Goldman Sachs has upgraded its assessment of luxury conglomerate LVMH, suggesting the company may be emerging from a challenging period. The bank has increased its price target for the shares from €600 to €625, maintaining a positive ‘buy’ recommendation for investors.

The most significant driver behind this optimistic shift is the anticipated performance of LVMH’s crucial Fashion & Leather Goods division. Goldman Sachs analysts project a notable sequential improvement for the third quarter, believing the segment has moved past its most severe difficulties. Their forecast anticipates a more modest revenue decline of approximately 2% for Q3, which is notably more favorable than the broader market consensus projecting a 3% drop.

This improved outlook is attributed to two key... Read more...