Barclays downgraded LVMH (LVMUY) to Equal Weight from Overweight with a price target of EUR 550, down from EUR 755. The company’s U.S. market, which was considered to be LVMH’s main growth driver, is now at risk of decelerating, the analyst tells investors in a research note. The firm cites incremental headwinds facing the sector for the downgrade.
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Read More on LVMUY:
- Moet Hennessy to lay off 10% of its workers, FT reports
- LVMH downgraded to Neutral from Outperform at BNP Paribas Exane
- LVMH downgraded to Hold from Buy at HSBC
- LVMH’s Strategic Initiatives and Brand Strengths Signal Long-Term Growth Potential Despite Short-Term Challenges
- LVMH price target lowered to EUR 569 from EUR 650 at UBS
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