LVMH: 2023 is looking good for the luxury giant 
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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Featured photo : © Istocks
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