UBS lowered the firm’s price target on LVMH (LVMUY) to EUR 650 from EUR 745 and keeps a Neutral rating on the shares as part of a Q1 preview. Despite LVMH’s long-term investment case as a play on the “attractive” luxury goods industry being intact, the upcoming Q1 results are unlikely to provide any visibility on the return of positive earnings momentum, the analyst tells investors in a research note.
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