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About the Group
LVMH Moët Hennessy Louis Vuitton SE, better known as LVMH, is a French multinational luxury goods conglomerate, native of France and headquartered in Paris. Christian Dior, the luxury goods group, is the main holding company of LVMH, owning 40.9% of its shares, and 59.01% of its voting rights.
Price Target Increase
Last Tuesday, LVMH released their sales and revenue for Q117 and once again they smashed estimates.
Having gone through my model, we increased the price target from €210 to €225.
The increase in price target is a result of an increase in the forward P/E from 24x to 26x given the resilience and strength of this Group.
Investment rationale below:
Concerns
Conclusion
These figures reported are much better than we expected. Impressively all divisions were in double-digit growth. We expect Fashion & Leather Goods to be the main focus in 2017. If global economic growth continues picking up, LVMH will continue outperforming the market.
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